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Ethereum Fundamentals Grow Strong Amid Staking Contract

Although Bitcoin has been stealing the spotlight as it hovers above $15,000, Ethereum has been keeping pace and has actually outperformed BTC so far this year. Analysts are calling for another big move up based on developing fundamentals.

The technical and fundamental outlook for Ethereum continues to strengthen as the asset recovers from a weekend dip and heads towards its 2020 peak once again. Since the beginning of 2020, Ethereum has gained more than 250% to date whereas Bitcoin has managed just 115% in comparison.

Many analysts who traditionally focus on Bitcoin are now turning to Ethereum. Josh Rager also noted the distances from their respective all-time highs;

“Let’s put this in perspective. BTC is currently only 26% away from its all-time high. ETH, on the other hand, is currently over 208% away from an all-time high price. Recently, ETH been outperformed by BTC but now looks quite bullish and has a lot of space to pump and catch up.”

Rager added that he is targeting a move up to the $700-$800 range, the next major resistance zone for ETH.

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