Ether breaks above $3,400 as scaling solution Arbitrum One launches to public; bitcoin continues to trade sideways

Ether ETHUSD, +1.22% broke above $3,400 on Tuesday for the first time since May, as the mainnet of Ethereum layer 2 scaling solution Arbitrum One, which aims to allow the network’s users to transact with lower fees, opens to the public.

Meanwhile, bitcoin BTCUSD, +0.68% was trading at $46,996 Tuesday evening, down about 2% during the past 24 hours.As ether tops the $3,400 barrier, it shows little resistance in its path toward a new all-time high, crypto analytics firm IntoTheBlock wrote in its Telegram channel. In May, ether peaked at $4,372.

The long-term outlook is also bullish, according to Katie Stockton, founder and managing partner of Fairlead Strategies. “Long-term momentum is strengthening and trend following measures like the 200-day MA and weekly cloud are rising,” she wrote in Monday notes.Despite that, bitcoin has been trading sideways, “once initial resistance is cleared, which we expect beyond the very near term, targeted resistance would become the all-time high near $69K-$70K,” Stockton wrote.

In 7 days, Bitcoin becomes legal tender in El Salvador, don’t regret of not buying $BTC today cause I’m seeing an ATH again soon... Thanks to Bruw50 he seems to know his stuff when it comes to BTC, I’ve been following his tweets and I have learnt a lot so far. Keep it up 👍

Dogethereum

Oh word?

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Local businesses experience 'déjà vu' as delta variant prompts new wave of event cancellationsLocal businesses across the country are having to adapt to empty calendars and event cancellations, stemming from the rapid spread of the delta variant this summer. Get vaccinated!
Source: NBCNews - 🏆 10. / 86 Read more »

Rep. Madison Cawthorn Warns Of 'Bloodshed' While Repeating False Election Claims“If our election systems continue to be rigged and continue to be stolen, it’s gonna lead to one place, and it’s bloodshed,” the Republican told an audience. He has got to go. Honestly, he terrifies me.
Source: HuffPostWomen - 🏆 27. / 68 Read more »

Cuomo's legal woes continue, could cost public at least $9.5MThe state has already agreed to pay up to $9.5M to lawyers representing and investigating Cuomo and his administration, AP review finds. Think how that money could benefit the citizens! This is disgusting! So what? Those people who wanted him investigated should reimburse taxpayers for this nonsense
Source: NBCNews - 🏆 10. / 86 Read more »

Asian markets retreat in muted trading amid pandemic worriesAsian shares were mostly lower in muted trading Tuesday on continuing concerns about surging COVID-19 infections in key regional markets like Japan. thanks $ZM 305
Source: MarketWatch - 🏆 3. / 97 Read more »

West Virginia governor: 'You have to get vaccinated'As millions of students continue to return to school over the coming weeks, one state's governor is stepping up the call for vaccinations among his constituents.
Source: YahooNews - 🏆 380. / 59 Read more »