- 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.
Read also:
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
