At the time of writing it is trading at $428.70 as it attempts to break through the historical level of resistance at $435.
If it can manage to continue its bullish surge to the upside the next key levels are at $485 and $534, but if it begins to trade at those levels it can begin to look towards a new all-time high later this year.
However, with low market cap projects like DeFi it comes with great risks, earlier this week Yam Finance suffered a malfunction that saw the value of its token capitulate, with users potentially losing millions in USD value.
If more of these newly-formed companies begin to fall, the value of Ethereum may suffer with a slump back to the $407 and $366 levels of support potentially being on the cards.
Buterin had proposed that Bitcoin needed a scripting language. He decided to develop a new platform with a more general scripting language when he couldn’t get buy-in to his proposal.
More Ethereum news and information
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Disclaimer: This is not financial advice.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.