Ethereum (ETH), the second-largest cryptocurrency by market capitalization, is nearing a key resistance level of $2,626. This movement is raising the possibility of a breakout in the near term.
In recent days, Ethereum has experienced a significant rally, with its price increasing by more than 9%, reflecting a positive trend in the broader cryptocurrency market.
The price dynamics seem to be mirroring Bitcoin's behavior, as Bitcoin (BTC) is also attempting to break above a key threshold around $68,000, strengthening the overall positive market sentiment.
Ethereum's market valuation has grown, and it boasts a fully diluted market cap of around $316 billion. The altcoin's average daily trading volume is approximately $15.1 billion, indicating robust market interest.
