Ethereum gained the upper hand against the dollar Tuesday, rising to its highest level in a month as prices overcame a series of technical hurdles.
Ether Price Levels
Ether rose sharply in early-week trade, as the bulls overcame a difficult trading range en route to new monthly highs. ETH/USD broke above a series of technical hurdles, including $315 and $325, to reach its current price level of around $334. Prices briefly traded as high as $344 earlier in the day.
Ethereum also rallied against bitcoin, with ETH/BTC reaching a high of around 0.05480. Traders made multiple attempts to overtake that level and climb above 0.05500 but were sent back on two successive occasions.
ETH/BTC was last seen trading around 0.04928 for a decline of 2.7%. Technical traders are looking for a clean break above the 0.052 resistance to confirm further upside.
The Case for Ethereum
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