Why is Ethereum (ETH) price up today?
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Ethereum price rallied as data showed large ETH holders adding more than 400,000 Ether to their balances.
Ether (ETH) price rallied nearly 8% over the past 24 hours, reaching a high of $2,064 on March 19. The altcoin’s daily trading volume increased to $17.4 billion as ETH regained a position above the $2,000 level.
Ethereum 1-hour chart. Source: Cointelegraph/TradingView
Ether price is up today after the altcoin managed a successful breakout from an ascending triangle pattern. After falling below $2,000 on March 10, Ether formed higher lows, followed by multiple retests at the immediate resistance of $1,950, which was the pattern’s neckline.
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