Ethereum has broken through the $2,700 price barrier with a significant 5% gain over 24 hours, reaching $2,790 amid surging market activity. The cryptocurrency’s market capitalization now stands at $336.81 billion, supported by a 40% spike in trading volume to $26.8 billion.
Technical indicators point to sustained bullish momentum, with the Relative Strength Index (RSI) signaling potential for further upside. The $2,700 level has transformed into a key support zone following the breakout.
On-chain metrics reveal strong holder confidence, as 71% of Ethereum addresses currently hold at a profit. Large investors control 56% of circulating supply, indicating substantial accumulation. Exchange data shows $493.33 million in net outflows over the past week, reducing immediate selling pressure.
Market analysts identify $2,850 as the next critical resistance level. Positive sentiment suggests Ethereum could test this threshold if current momentum persists, fueled by improving technicals and favorable supply dynamics.