The year started with a blast for both Ethereum and Bitcoin. Thus, as fluctuations continue, we are seeing a minimum pullback from Ethereum and that makes it more stable than ever. It started the year with a kick as there has not been a massive back draw from this token. The growth in Defi has been insanely observed since the beginning of January this year. With tons of tokens joining the exchange platform we can attest that there's still a lot more room to improve in the Ether Blockchain.
Insights for February
Ethereum has just reached its all-time high touching the range of $1600 as of this writing. There have been no signs of weakness showing in the daily candlestick of Ethereum's price. Since there are lots of great opportunities seen in the market for Decentralized Finance which mainly uses Ethereum blockchain, this token is still hyping up. With different types of DeFi projects to offer such as Lending, Dex's, Derivatives, Wallets, Asset Management, Insurance, Savings, Token Flavors, and On Ramps.
Technical Analysis for Ethereum
The chart says it all how powerful the momentum for Eth, with all those projects popping for DeFi. It just broke its major resistance and starting to discover another all-time high again. Bollinger Bands is just starting to expand the band a significant indicator that there's a gigantic room for Ethereum in the world of crypto. Also, the estimated tally for DeFi's asset costs about from less than $1 billion in January 2020 to the current $27.8 billion. This could potentially skyrocket Ethereum's price up to $2500 by the end of February.
Is it still a good buy for Ethereum?
Definitely a yes! Since Ethereum is the founding blockchain for some altcoins. This asset has a lot of potential value in the future. Every day there are multiple coin listings in different exchange platforms and some of them or most of them use Ethereum's blockchain protocol. Just imagine Crypto being a country and Ethereum is the president of all altcoins. You can figure out how powerful this asset is. Also, the launching of Ethereum's 2.0 made it even more stronger and reliable for the DeFi.