Ethereum ($ETH ), the second largest cryptocurrency by market capitalization, has demonstrated an impressive growth of 10% in bullish trading, fueling investor interest in the current market rally. According to data, the price of ETH has risen to $4600, the highest level since December 2021. This surge was accompanied by a significant increase in trading volume, which in the last 24 hours amounted to $64.17 billion, or 27.71% of the total cryptocurrency market volume.
Analysts attribute this growth to the overall positive sentiment in the market, bolstered by news of Ethereum's network upgrade and growing interest in decentralized finance (DeFi). Technical indicators, such as breaking through the resistance zone at $2650 and trading above the 100-hour moving average, confirm the bullish trend. However, some experts warn of potential corrections after such growth.
This rally highlights the strength of Ethereum as a key player in the cryptocurrency market. Investors and traders are closely watching for further price movements, hoping for new highs. Want to stay updated on all cryptocurrency news? Subscribe to MiningUpdates for fresh analytical materials and forecasts!