Ethereum Up 10% in Seven Days
The price of Ethereum (or ETH), the token that powers the Ethereum blockchain network, was last up more than 10% in the last seven days. Ahead of the start of Monday’s US session, ETH was last changing hands for just under $1,300 per token, up just over 2.5% in the last 24 hours and probing for a breakout to fresh near-one-month highs and a test of its 50-Day Moving Average just under $1,340.

Ether has rebounded about 20% in the last three weeks since forming a double bottom in the $1,080 area during November. Optimism about the US Federal Reserve slowing the pace of its monetary tightening in the coming months, with US inflation showing clear signs of having peaked, has lifted US stocks, bonds, and many commodities. This trend has been giving tailwinds to crypto in recent weeks.

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