The Russell 2000 index, which tracks roughly 2,000 smaller publicly traded US companies, has reached a new all-time high above 3,050 over the past few weeks. According to analyst Crypto Rover, this level was also reached in 2016 and 2020, and in both cases, Ethereum posted a massive rally within 6 to 12 months. The Russell 2000 is considered a risk-sensitive indicator on equity markets, and its rise signals improving risk appetite and liquidity conditions. ETH is currently trading below $1,900, down about $100 from its recent peak, but still up over 20% from its local low at $1,520. Several analysts, including Michaël van de Poppe, remain optimistic about ETH’s future price movements.
Source: Read the original article
