Ethereum Price Teeters on Breakout as Bulls Eye Dramatic Move

Ethereum's price has been steadily increasing, up 29.6% against Bitcoin in one month, and now sits at around $2,450 per coin.

Its market capitalization stands at a substantial $302 billion, giving it approximately 10.8% dominance over the crypto economy's total $2.7 trillion value.

ETH has traded within a narrow range between $2,445 and $2,483 this weekend, with relatively low volume of around $6.74 billion in ETH-based trades over the last day.

Supporters of Ethereum are optimistic about its prospects, with some predicting a sharp price increase. Arthur Hayes, co-founder of BitMEX, has stated that he believes ETH could rise by 3x to 5x 'pretty quickly', and Scott Melker quoted him in his recent post.