Ethereum rose to a two-month high

For the first time since the beginning of November 2022, ether (ETH) exceeded $1,400.

On the night of Friday, January 13, the largest altcoin strengthened to $1432. Its capitalization increased to $174.919 billion.

On Nov. 22, Ether crashed to $1,092 as volatility escalated after the FTX crash. In this area, the support increased and many analysts said that the coin has bottomed out.

The ascent resumed after another strong fall in mid-December, caused by a tightening of the Federal Reserve’s policy.

In a week, the cost of Ethereum soared by almost 15%, during the same time, Bitcoin added 12% and tested values ​​above $19,000.

Thanks to the return of capital to risky assets, ETH was able to break the resistance around $1420.

The nearest zone of strong support for the cryptocurrency has formed at $1370.

The Santiment note says that large investors have become the main participants in the January pumping of Ethereum.

Addresses controlling between 100 and 10,000 coins have been purchased over the past ten weeks. During this time, the number of wallets with such a volume of cryptocurrency increased to 48,556 (+3000), the experts emphasized.

Purchases were observed at the turn of December-January, when ETH was at the bottom.

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