Ether price holds 1820 but pro traders are skeptical about further gains

1. The main topics covered in the article are: - The current price of Ether and its recent performance in the market. - The possible reasons behind the recent surge in Ether's price. - Analysis and opinions of professional traders regarding the future market for Ether. 2. Ether's price has been hovering around $1,820 to $1,830 in the past few days,despite the crypto market's recent slump. The article suggests that the recent strength in Ether's price could be due to several factors,such as the growing use of decentralized applications (dApps) on the Ethereum blockchain and the increasing demand for Ether from institutional investors. However,professional traders are skeptical about Ether's further gains,as they believe that the current price has reached an overbought level and might experience a short-term correction. 3. Professional traders warn that the current price of Ether is already overvalued and might be due for a correction,given its rapid rise in the past few weeks. Some traders also suggest that the rising popularity of dApps could be a double-edged sword for Ether,as it could lead to more transactions on the Ethereum network but also increase the network's congestion and transaction fees. On the other hand,proponents of Ether argue that the growing use of dApps and the development of the decentralized finance (DeFi) ecosystem on Ethereum could lead to a more sustainable demand for Ether in the long run. Overall,the market for Ether remains volatile and uncertain,with traders and investors closely watching for any signs of a price correction or a sustained uptrend.

source https://titdoi.com/news/Ether-price-holds-1820-but-pro-traders-are-skeptical-about-further-gains