Crypto
Ethereum Surges Past $2,700 as Investors Defend Realized Price
Ethereum's price surged past $2,700 overnight, marking a +2.5% gain and leaving analysts wondering if the token can break through to $3,000.
The rally is attributed to investors defending Ethereum's realized price of $2,310, the average on-chain cost basis for every ETH holder. After the Clarity Act failed to advance in the Senate last week, ETH dipped below $2,400 and flirted with this floor, prompting buyers to step in.
The current breakout structure shows a similar accumulation pattern to previous rallies, with analysts pointing to a key level of $2,640. Holding above this could lead to prices reaching $3.2K, $3.4K next.