- Ethereum (ETH) surged 13.17%, reaching $1,786, with market cap at $215.6 billion.
- ETH broke above resistance at $1,688 and looks towards $1,850, hinting at further rally.
- ETH price could fall to $1,600 if its selling pressure increases.
Ethereum (ETH) surged 13.17% over the past 24 hours to $1,786.09. The surge occurs in the wake of a general rally in the overall cryptocurrency market by the leading cryptocurrency, Bitcoin. Ethereum market cap rose to $215.6 billion, accompanied by a 70% growth in trading volume to $25.35 billion—indicating increased trader interest.
ETH’s recent action coincides with a robust bounce off a falling trendline established since March 25. It rapidly moved over resistance at $1,688, a point where price action had capped increases since April 9. This breakout indicates the possibility of a continued rally, assuming ETH regains and sustains the all-important psychological level of…
