Even though Bitcoin is leading the current rally, Ethereum has been on an even bigger run up as the cryptocurrency is up almost 20% in the past 24 hours alone breaking through the $250 level and now aiming for $300. With the rise in IEOs it’s only natural to see ETH increase in price similar to how the cryptocurrency exploded back in 2018 with the help of the ICO hype.
Essentially all cryptocurrencies are currently in a major bull rally, most seeing double digit percent gains. Last time Ethereum was at the $260 level was 9 months ago in August of 2018. Looking at past price action, the $290 level will be a slight resistance but nothing the bulls can’t overcome, especially with today’s market momentum.
Moreover, the current trade volume is higher than we have ever seen. At the time of writing, Ethereum is boasting a $14 billion 24 hour trade volume, compared to January 2018 where ETH hit its all time high of $1400 where the 24 hour trade volume peaked at $8 billion. That’s almost double the volume from the previous…