On February 12, Ether (ETH) surged to $2,624, buoyed by a broader rally in the crypto market and Bitcoin’s ascent to a 2-year high above $50,300. Notably, Ethereum’s network metrics also exhibited robust growth, with the number of Ethereum entry queue validators reaching 7,045, marking the highest increase since October 6, 2023. Concurrently, the number of active validators soared to an all-time high of 936,838. Moreover, the total value locked in the Ethereum network surged to a year-to-date high of $23.30 billion, underscoring the network’s increasing utility and demand.
At the time of writing, ETH was trading at $2,648.
ETH, after giving a breakout above the long-held resistance of $2,146 rallied up to $2,717. The bulls failed to manage the grip on the asset as it faced stiff resistance at the key level of $2,750, correcting almost by 20%, and dropped to $2,168. ETH retested the support of $2,150 and resumed the up move and the price surged up to $2,686. To further rally the asset needs to break, close and sustain above the key resistance of $2,750.
Key Levels
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $2,150 | $2,400 | ETH | $2,750 | $3,000 |
