Can Ethereum Move Higher?

As previously reported, Bitcoin is mainstreaming more than ever, and its price is stabilizing. Ethereum, the #2 cryptocurrency in the world, has been tumbling along with Bitcoin as the bottom falls out of the cryptocurrency market, but can it recover along with Bitcoin? Analysts are looking at a resistance zone between $2700 and $3000, but experts are concerned that moving to this level without “actual volume” was worrying. The movement of Ethereum has been interesting after it reached an all-time high late in 2021, but the token has far more room to grow, especially given the number of use cases that are available and projects that are functioning on the Ethereum blockchain. At press time, Ethereum was down a fraction of a percent, trading at almost $2800 on more than a 20% drop in volume and a slight drop in its market cap. Another statistic of note is that Ethereum’s concentration by large holders sits just over 40% and it is still correlating stronger with Bitcoin.