Ethereum price back on track to $500 once bulls flip $400 to support

On Oct. 12 the price of Ether (ETH) soared 8.15% to reach a new monthly high at $387.75 on Binance. The rally from $366 to as high as $387.50 occurred as Bitcoin (BTC) price surged to $11,600, leading traders to speculate that the crypto bull market has restarted.

Over the past few weeks Ether’s fundamentals have strengthened and despite a sharp downturn in the price of decentralized finance tokens, the number of active users in the Ethereum network has continued to grow.

ETH/USDT daily…

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