Ethereum has done relatively well in the past week. The tremendous performance has saw it rise over 22% in the current week as it is now just a dollar away from hitting an all-time high.
The upgrade which is being made on Ethereum 2.0 and rapidly growing DeFi reflects to the current bullish sentiments in the market.
The movement begun in July after Bitcoin surged $9340 mark while a surge in volume saw Ether price above the descending trendline and the high-volume visible profile visible range (VPVR) level at $246.
According to a report, if bulls cross $288.32 mark then quicker rise is possible in the sector.
Ether price rallied to $287.23, Bitcoin price fluctuated around the $9,600 level. Many of the top-20 altcoins also posted moderate gains.
According to CoinMarketCap, the overall cryptocurrency market cap now stands at $289.3 billion. At the same time, Bitcoin’s dominance index has been trending down since the 2020 highs of 67% to the current 61%.