Ethereum price breaks out as 'bad news is good news' for stocks

Cointelegraph

Published Jun 24, 2022 12:16PM ET

Updated Jun 25, 2022 02:00PM ET

Ethereum's native token, Ether (ETH), gained alongside riskier assets as investors assessed weak U.S. economic data and its potential to cool down rate hike fears.

ETH's price climbed up to 8.31% on June 24 to $1,225, six days after falling below $880, its lowest level since January 2021.

ETH/USD daily chart versus Nasdaq and S&P 500. Source: TradingView
ETH/USD four-hour price chart featuring IH&S setup. Source: TradingView

Continue Reading on Coin Telegraph