Ethereum appears to have entered a new leg up after testing a crucial area of support. The smart contract platform’s ETH token is also trending up against BTC.
Bitcoin might be the world’s biggest cryptocurrency, but it’s currently trending down against Ethereum.
ETH has experienced price volatility month after setting a record high of roughly $4,870 on Nov. 10, before plummeting by nearly 20% along with much of the rest of the market.
However, investors appear to have taken advantage of the recent correction toward $3,900 to re-enter the market. The significant increase in buying pressure has helped ETH rebound, gaining over 800 points in market value over the past five days.