ETH Rally Continues as Soft Merger Deadline Announced
- ETH recently broke through the $1,400 level in a relatively short time.
- The price of ETH has moved back below the $1,400 level, according to CoinMarketCap.
- The 24-hour liquidations for ETH totaled $285.58 million.
The largest altcoin by market cap, Ethereum (ETH), broke through the $1,400 level in a relatively short time recently. ETH broke above the $1,400 level after a price increase of more than 10% over 24 hours.
According to CoinMarketCap, the price of Ethereum (ETH) at the time of writing has pulled back slightly as it finds itself below the $1,400 level, with its price at $1,356.80. Despite falling below the $1,400 level, ETH price is still up around 12.94% in the last 24 hours. The price of ETH also rose last week by around 13.87%.
The price of the altcoin established a 24-hour high at $1,378.42 and a 24-hour low at $1,195.61, and also strengthened by 9.11% against the leader. crypto market, Bitcoin (BTC).
Investors believe that the recent increase in the price of ETH can be mainly attributed to the fact that the team of the ETH developer gave an expected time for the launch of the merger. Merge time has now been tentatively scheduled for September.
Data from Coinglass shows that total ETH liquidations reached $4.11 million in the last hour at the time of writing. The total 24-hour liquidation for ETH is $285.58 million.
ETH’s positive performance over the past 24 hours has added to its multi-day green streak, as seen on the ETH/USDT daily chart above. The streak saw the price of ETH reverse the $1,200 level relatively comfortably.
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