Ethereum Pulls Back After 30% Weekly Rally
Ethereum has been on a tear, pushing through resistance and climbing sharply in recent days. The token's price surged to a fresh high early in the session but was unable to hold its best levels into the morning, pulling back from the day's peak.
The 30% rally over the past week is the latest development in Ethereum's shift from a stalled position to one of strong momentum. However, this kind of run can attract late buyers who start taking profits, leading to a pullback.
The price pushed to $2,565 before sellers pulled it back into the mid-$2,530s, indicating that the move is not yet in trouble but worth watching closely.
Ethereum remains well below its peak from a year ago and still has a negative year-to-date figure. The strong month has repaired some damage, turning the six-month trend positive again, but it has not undone the larger decline.