Both Ethereum and Bitcoin traded at a weekly low of $2,060.15 and $47,159.50. These levels of prices were surreal as prices had not decreased that low since March.
After the news that Acker – America’s oldest wine brand is now accepting Ethereum and Bitcoin payments, the current bullish market outlook seems affected.
According to the data from CEX.IO, despite Bitcoin’s 2.58% gain in the past 24 hours to $54749.9, its bulls are still coming off of the $54,001 resistance level. The top to reclaim is its all-time high of $64,863.11 attained two weeks ago.
Technical indicators such as the Chaikin Money Flow and the Moving Average are not oblivion of the regained strides on the 5-hour chart. While the resurgence is apparent, Bitcoin still has many pushes to erode the downward slide. A consistent upward move will return Bitcoin’s price to $60,000 for a short period.
Ethereum’s gain 2.25% to trade at $2544.84. Retail sentiments are remaining high, while on-chain data reveals the news that investors do not give up on the future potentials of the Proof-of-Stake network. Its total deposits top more than $9 billion.
Now, Ethereum is trading above its six and 20-day Moving Averages, making a case for a further upsurge in the near term.
Is Coinbase Stock Worth Buying Right Now as Ethereum and Bitcoin Surge?
As the popularity of Ethereum and Bitcoin surges, Coinbase Global became mainstream of the cryptocurrency industry.
The crypto gained the price at 250 per share on the Nasdaq on Apr. 14. Coinbase stock got closer to nearly 72% to 429.55 before closing at 328.29, up 31.4%, for a valuation of $87.4 billion.
Analysts expect Coinbase to give the cryptocurrency market more increased validation.
Wedbush analyst Dan Ives published a note addressing clients that the Coinbase IPO is potentially a watershed event for the crypto industry. Also noted that Coinbase is a barometer for the growing adoption of Crypto and Bitcoin for the coming years. It is a foundational piece of the crypto ecosystem.
Coinbase is one of the most extensive U.S. cryptocurrency exchanges. For trading, it lists around 50 cryptocurrencies. And the leaders in this market are Bitcoin and Ethereum. Bitcoin is the most prominent digital coin by market value. According to Coindesk, Ethereum has more than tripled in 2021.
Coinbase Stock Fundamental Analysis shows sales growth and huge earnings.