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Ethereum’s Price Holds Steady Above $2,000 Amid Crypto Rally

The price of Ethereum (ETH) remains above the key support level of $2,000 U.S. amid the broader rally in cryptocurrencies.

Ethereum, which is the second biggest crypto by market capitalization after Bitcoin (BTC), has seen its price rise 68% so far in 2022, bringing its five-year gain to more than 2,100%.

Analysts say they are seeing a noticeable increase in investor interest in Ethereum, especially as the digital token holds above the $2,000 U.S. mark and challenges a key resistance level of $2,136 U.S.

Many analysts say Ethereum could see further gains in the weeks ahead should it break above $2,150 U.S. Trading volumes in Ether have increased since the start of November in a bullish sign for the digital asset.

Some analysts say that Ethereum could be headed for all-time highs should it breakout from its current trading pattern.

The price of Ethereum hit an all-time high of $4,891.70 U.S. in November 2022 when the crypto market last peaked.

Ethereum has gotten a boost recently from expectations that U.S. regulators may soon approve cryptocurrency exchange-traded funds (ETFs), including one for Ether.