- Ethereum sets a new yearly high, surpassing the $2,400 mark amid market volatility.
- After trading between $1,995 and $2,070, ETH’s momentum led to an 11% price jump.
- Bullish MACD signals and strong market support suggest ETH may test higher resistances soon.
Ethereum has marked a significant milestone, achieving a new yearly high by surpassing the $2,400 mark during early trading hours today. This achievement comes after a period of trading between $1,995 and $2,070, with the market recently gaining the necessary momentum for a breakout.
Ethereum, leading the altcoin pack, breached its resistance level, culminating in an 11% surge before encountering resistance at $2,300. The Moving Average Convergence Divergence (MACD) reflects this bullish sentiment, showing a notable jump in the histogram that signifies increased buying pressure.
If the market maintains its bullish stance and holds Ethereum above the crucial $2,400 support level, we could see the digital currency testing the waters at a $2,450 resistance level within the week. A continued positive trend might even push Ethereum to challenge the $2,500 mark over the weekend.
The future of Ethereum in the cryptocurrency industry remains bright. With continuous technological advancements and a solid community, ETH is well-positioned for sustained growth and wider adoption, reinforcing its status as a leading digital asset.
