ETH, is  the native token of the largest smart contracts in the crypto-space. As of today being 07/02/2023, Ethereum has shown signs of outperforming Bitcoin (BTC) in the month of February 2023. A;though the two largest cryptocurrencies (ETH & BTC) had reached a new 2023 highs last week, with BTC trading above $24k while Ethereum trades above $1.5k.The current chart shows that Ethereum's  price has the potential and the propensity  to keep the uptrend intact while aiming for $2,000.

On the other hand, Bitcoin faces a drastic sell off  pressure in the wake of a potential global inflation and economic recessions. Traders/Investors all hope to see Bitcoin settle above $24,000 hallmark price, however, the pioneer  crypto must first seek to create a very strong support above $22,000 price before triggering another swing to the upside.
The current price of ETH shows a very strong support support at $1,600 and this support appears to be strong enough to keep the uptrend flow intact.

In summary, we also noticed an increased in the network activity on both Eth and Bitcoin, and this signals the bulls’ presence in the market. Traders/Investors should keep their eyes on the chart for the immediate support ETH at $1,630 because if Price range is respected, then there is no doubt that ETH would quickly closeup the gap to $1,800 clamoring a potential flip to the uptrend above $2,000.


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Crytponalyzed Market Analysis @ 2023.