Ethereum experienced an impressive surge of 11.35% today, marking its most substantial one-day percentage gain since Thursday, November 9, 2023. This upward movement boosted Ethereum’s market cap to $378.09 billion, representing 15.29% of the total crypto market cap. The recent price rally has reignited interest among investors and enthusiasts within the broader crypto market. Over the past week, ETH has become a central focus of activity, with on-chain data indicating increased engagement from large-scale investors. This resurgence in Ethereum’s price has triggered significant whale activity, highlighting a pivotal development in the crypto landscape.
At the time of writing, ETH was trading at $3,686.
ETH after making the high of $4,093 witnessed a sharp profit booking and the prices corrected almost by 31% and dropped to $2,817. On a daily time frame, the asset was trading in a ‘Descending Triangle’ pattern and was taking multiple supports at $2,850. The bulls finally succeeded in giving a breakout above the pattern and prices have rallied up to $3,721. ETH has a minor resistance at $3,750, once it breaks and sustains above that then we may expect it to rally further up to $4,000.
Key Levels:
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $3,000 | $3,350 | ETH | $3,750 | $4,000 |
