Friday morning’s Asian trading session has been a fruitful one for Ethereum holders. The price of the world’s second-largest digital asset has reclaimed the $2,000 barrier and is just $50 off making a new all-time high at the time of press.
Ethereum is in the process of forming its fifth daily green candle, having increased by 4% over the past 24 hours. Weekly gains have been a whopping 26%, outperforming its big brother by a clear margin as BTC gains 16% over the same period.
According to Tradingview, ETH has climbed from $1,915 to top out at $2,005 before dipping back below the $2k level at the time of writing. One anomalous wick dumped prices back to the 50 hour EMA at $1,890 but there was no stopping the upward march.
ETH/USD Chart. Source: TradingView
Institutions Behind ETH Rally?
Ethereum is just a fraction away from its all-time high of $2,050 which came on Feb. 20 and analysts are suggesting that institutions may be loading up.
Crypto Quant CEO Ki Young Ju observed that 40
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