Ethereum demonstrates strong growth, reaching a five-month high due to increasing interest from institutional investors.
Ethereum Growth and Market Impact
Ethereum (ETH) surged by 12.14% in 24 hours, reaching $3,407.01, marking the highest level since February. Market capitalization rose to $411.27 billion, while daily trading volume hit $43.09 billion.
Technical Analysis of ETH
Technical indicators confirm a bullish trend for Ethereum. The daily chart shows ETH firmly breaking through the $3,200 resistance level. If this momentum continues, the next ceiling at $3,500 could be tested.
Crypto Market and Institutional Investments
The recent growth is linked to Ethereum accumulation by public companies. For example, SharpLink Gaming disclosed a $225 million Ethereum purchase, indicating growing interest in crypto treasury management by major institutions.
Overall market indicators and rising interest from institutional investors may lead to new highs for Ethereum in the future.