Ethereum (ETH) is attempting to break out of a crucial resistance level after recovering from last week’s lows. Some analysts suggested that the cryptocurrency is repeating past breakout playbooks, which could lead to a new high this quarter.
Fourth Time’s The Charm?
On Thursday, Ethereum retested the $3,850 level after recording a 6.3% surge in the daily timeframe. The surge was fueled by news of President Donald Trump’s alleged plan to sign an executive order that would allow private equity, real estate, cryptocurrency, and other alternative assets investments in 401(k) plans.
The executive order would reportedly direct the Department of Labor (DOL) to revise the guidelines related to alternative asset investments in retirement plans, opening the doors to the $12.5 trillion industry.
Notably, the King
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