Ethereum Blasts Past $2,200 as Bulls Gain Momentum

Ethereum's price surged over 8% to break above $2,200 for the first time in recent sessions.

The rally began after Ethereum pushed through the $2,050 zone and cleared multiple resistance levels as a bullish trend line formed on the hourly chart with support at $2,100.

Bulls drove the price past the $2,120 resistance and the 76.4% Fibonacci retracement level of the prior decline from $2,209 to $2,062.

The move extended to $2,245, hitting the 1.236 Fibonacci extension of that same downward swing.