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Ethereum price rally under question after ETH slams into resistance at $1.6K

Published 01/18/2023, 03:30 PM
Updated 01/19/2023, 09:00 AM

Ether (ETH) price is struggling to overcome resistance at $1,600 and this is the altcoin’s third attempt since September. Some would say the 33% year-to-date rally could be interpreted as a failed opportunity to breach the $200 billion market capitalization mark.

Ether/USD price index, 2-day. Source: TradingView

If Ether’s price were to break above $1,600, it would return the No. 2 cryptocurrency to a top-60 global tradable asset, surpassing giant multinational companies like Nike (NYSE:NKE), Novartis (NVS), Cisco (NASDAQ:CSCO) and Toyota (TM).

Ether 2-month futures annualized premium. Source: Laevitas
Ether 60-day options 25% delta skew: Source: Laevitas.ch

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