Ethereum Approaches Highs Around $ 1,450 Amid Renewed Interest In DeFi

The price of Ether (ETH), 

Ethereum’s own cryptocurrency , is approaching its previous all-time high this Tuesday. The local maximum today was fixed at $ 1,457, just $ 3 lower than the absolute one set in January.ETH’s current ascent from $ 1,200 comes amid growing doubts in traditional financial markets, which last week were unable to buy shares of certain companies due to restrictions imposed by brokers. Analysts believe these actions could attract new users to the decentralized finance (DeFi) space.“When investment and trading platforms like Robinhood stop trading on certain assets like GameStop and Nokia, and NASDAQ President Adena Friedman urges regulators to prevent retail investors from coordinating on social media, the cryptocurrency scenario is only 

getting stronger,” the head of CoinDesk said . NEM Ventures trading Nicholas Pelekanos.Messari analyst Ryan Selkis also believes that the road to mass adoption of Bitcoin, Ethereum, DeFi and Web 3.0 assets is now open. “Buy Ethereum to support an evolving decentralized financial system and potentially make a lot of money, as well as tell your bank to get out,” he wrote.The Coinbase exchange in a report for 2020 previously wrote that the demand for Ether among institutional investors is growing. However, less than a week is left before the launch of Ethereum futures on the Chicago Mercantile Exchange (CME) – the instrument will be presented for trading on Monday, February 8.Analyst Ayush Jindal 

names the $ 1,450 and $ 1,480 levels as the next targets for ETH, and $ 1,500 as the next resistance. Major support is near the $ 1,340 level, where the 100-hour moving average passes.

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