Crypto
Ethereum Breaks Above $2600 Barrier After 40% Rally
The price of Ethereum (ETH) has broken through a multi-month resistance level and closed above $2600 for the first time in nearly eight months.
This milestone comes after a 40% rally in the last 33 days, with ETH currently trading at $2627.92.
The move is confirmed by the MACD indicator's golden cross at 39.96, which suggests a strong upward trend.
However, as price tests upper Bollinger resistance at $2653, the RSI (Relative Strength Index) flashes overbought at 71.59, indicating a potential healthy retracement to the 50-EMA support at $2494 before further continuation toward the 200-EMA at $2349.