Price Update: Ethereum (ETH) Price Surges High to Reach $370

As the world’s largest cryptocurrency by market cap Bitcoin (BTC) has found a breakthrough, Ethereum (ETH) has also witnessed a massive surge in its price value. As per the data from CoinMarketCap, the price value of ETH has surpassed above $370 by securing more than 8% gains in the last 24 hours. Investors are expecting that the second-ranked digital currency will soon be able to reclaim $400.

Statistical Data

The market cap of Ethereum is $42,466,596,656 USD out of the total market cap.

$16,476,133,182 USD is the 24-hour trading volume of the coin.

While on the other hand, the circulating supply of the coin is 112,940,852 ETH

ETH Price Value

The price value of ETH is standing at $374 with a change rate of 6.68% in 24 hours, at the time of writing.

ETH/USD Price Analysis – Technical outlook seems bullish

Ethereum (ETH), the second-largest cryptocurrency in the world in terms of market capitalization has been constantly trying to push its price upward while aiming at breaking above the short-term resistance of $350 for over the course of the last few weeks. In the month of September, ETH price even went down to $315 as well because of a strong sell-off that occurred in the markets.

However, after touching lows, ETH has been trying to recover and has bounced back well so far. The second major digital currency managed to break its resistance of $350. After breaking above this resistance, the price value of ETH did not stop there as the coin continued its upward movement and has surged above the $370 mark. To reach this price level, the coin has recorded more than 8 percent gains within the duration of the last 24 hours.

Moreover, the technical outlook of the coin is still highly bullish as the price of ETH is up over 6% in 24 hours while trading at around $374, at the press time.

$400 is the next target for Ethereum

As the second-ranked token has succeeded in breaking two major resistances $350 and $370 respectively, its next target is to reach $400 in the short-term. With its current highly bullish technical outlook, it seems that the coin will soon be able to reclaim this level in the coming days.