The price of Ether is on the rise, signalling a potential shift in focus back to the Ethereum ecosystem. Several factors contribute to this positive momentum, including a surge in whale activity, growing institutional interest in Bitcoin, and a general improvement in the broader crypto market. This heightened bullish sentiment has propelled Ether’s price up by over 5% on April 8th. The notable breakout in Ether’s price is particularly significant, given that it now trades above $3,600. This suggests a growing attention towards Ether, especially considering that the altcoin has witnessed a remarkable price surge of 96.2% over the past year.

At the time of writing, ETH was trading at $3,705.

ETH after correcting almost by 25% from the recent high of $4,093, the prices dropped to $3,056. The asset took the support and bounced from the key level of $3,000. Post this move, ETH started consolidating and was trading in a range from $3,200 to $3,675. The asset is trying to give a range breakout and if it sustains above $3,700 then we may expect some up move. However, to witness a rally it needs to break and close above the key resistance of $4,150.

Key Levels:

  Support 2Support 1AssetResistance 1Resistance 2$3,000$3,400ETH$3,700$4,150

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Filed under: Bitcoin - @ April 9, 2024 10:25 am