Ethereum Price Gains Strength, Outpaces Bitcoin With An 8% Surge

Aug 13, 2024 04:00 am Cryptocurrency 42

Ethereum price started a steady increase above the $2,550 resistance. ETH is beating Bitcoin and might even clear the $2,750 resistance zone.

Ethereum started a fresh increase above the $2,550 and $2,650 levels.

The price is trading above $2,650 and the 100-hourly Simple Moving Average.

There is a connecting bullish trend line forming with support at $2,695 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could extend gains if it clears the $2,750 resistance zone.

Ethereum Price Jumps Over 8%

Ethereum price remained stable near the $2,520 support zone. ETH formed a base and started a fresh increase above the $2,600 level. The price gained over 8%, outperformed Bitcoin, and even surpassed the $2,650 resistance zone.

The price spiked above the $2,720 resistance. A high was formed at $2,748 and the price is now consolidating gains. There is also a ..

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