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Ethereum Weekly Trend Reveals a Steady Path to a Rebound

Ethereum’s current price has reached $1,619.21, up from Wednesday’s $1,500 showing signs of a rebound. In addition, the cryptocurrency saw a boost with Wednesday’s announcement by the Federal Reserve on raising the interest rate by 75 basis points. Ethereum soared more than 11.15% in just 24 hours on that move.

Ethereum Weekly Trend – July 28, 2022

This follows Ethereum’s 40% rally last week, triggered by the network’s developers announcing a tentative date for its massive software update. The unexpected rally puts to rest worries among investors that a possible interest rate hike might bring the value of cryptocurrencies further down.

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