Ethereum Breaks Key Resistance at $3,300
Ethereum (ETH) has surged past the $3,300 mark, reaching a high of $3,302.64 with a 6.45% gain over 24 hours. This rally signals a strong recovery in market sentiment, especially after weeks of consolidation, as bullish momentum regains control.
Key Drivers Behind the Surge
- Layer2 Expansion: Rapid growth in activity across Ethereum's Layer2 networks is boosting overall usage.
- Spot ETF Hype Builds: Increasing speculation around potential approval of a spot Ethereum ETF is lifting investor confidence.
- Positive On-Chain Trends: Rising large transactions and growing active addresses suggest stronger institutional involvement.
Manage Volatility and Stay Strategic
While the rally is promising, rapid price increases often precede corrections. Traders should monitor the $3,250 support level and employ disciplined risk management. In such a volatile environment, decisions should be guided by both technical analysis and fundamental insights rather than market hype.