Ethereum is currently trading at $1,629 following a rollercoaster week of price action that has seen it fluctuate within a $400 range.
The week began with a dramatic 30% move to the downside after failing to establish a level of support above its all-time high of $2,000.
In the immediate future $1,695 remains a key level of resistance to the upside, as this was a prior point of rejection earlier this month.
The trajectory over the coming weeks and months is delicately poised, with the industry currently being subject to a period of increased institutional adoption.
Ethereum futures was listed on CME earlier this month, with trade volume over the past 24 hours exceeding $100 million.
However, it’s worth noting that cryptocurrencies are extremely volatile by nature, and if Ethereum’s $1,350 level of support breaks, it will likely go on to test $1,000 before the end of the month.
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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