#CryptoComeback Ethereum's 20% Breakthrough Could Be the Spark

Ethereum (ETH) has upended the cryptocurrency market with a sharp jump of 20% in the last 24 hours, raising the price to $2323.54 and briefly touching a daily high of $2486.01. The trading volume of Ethereum also surged sharply, increasing by 150% to a colossal $51.56 billion.

ETH is Recovering Key Support Levels

According to CoinMarketCap, ETH has convincingly regained its 20-day EMA at $1869 and is now fluctuating near the 50-day EMA at $1883, both of which could serve as strong support zones in the near term.

This sudden rise has led to speculation about a broader rally in the altcoin sector.

Historically, aggressive upward trends in Ethereum have often preceded altcoin booms. When ETH dominance rises and ETH/USD breaks through key resistances, capital is often redistributed into riskier altcoins.

Is an Altcoin Market Rally Around the Corner?

Looking at the broader altcoin market, the TOTAL2 chart confirms this growing optimism. The market capitalization has exceeded $1.16 trillion, with resistance at the 1.0 Fibonacci level around $1.23 trillion.