Ethereum (ETH) has made a strong move on January 24, with its price increasing by 7.5% over the past few days. The price reached an intraday high of $3,421, recovering above its 100-day Simple Moving Average (SMA), which it had fallen below just a week prior. As ETH climbs, analysts are optimistic about its potential for continued growth, citing several key factors driving this upward momentum.
Marketwide Recovery Lifts Ethereum
Ethereum’s recent price increase is part of a broader trend of recovery across the cryptocurrency market. Bitcoin (BTC), the leading cryptocurrency, saw a 2.6% increase in the last 24 hours, pushing its price above $105,000. Altcoins such as XRP and Solana also posted gains of 1% and 6%, respectively.
This recovery comes on the back of general positive sentiment in the cryptocurrency space, with many investors buoyed by the recent executive order issued by U.S. President Donald…
