The second by capitalization cryptocurrency Ethereum (ETH) began a new week of slow and steady growth. A few days ago, the coin was trading below $290, and the risks of its sinking to $280 and below remained.
However, Ethereum could not just withstand the pressure of the market, but was able to reverse the trend, after which it began to regain the positions lost last week.
On Monday, July 8, ETH rose to $304.85, its market capitalization reached $32.561 billion. The daily trading volume of the Ethereum coin now exceeds $8.285 billion.
According to the analysts, overcoming a milestone of $300 is a landmark event for the digital silver in the dynamics of the movement of the coin. If in the near future we will see support at the level of $308-311, then the cryptocurrency will most likely enter the next rally phase, which could lead to a jerk of up to $325.
Recall, Ethereum did not break through the mark of $400 during the June run, when the coin reached its maximum value since August last year.
At the time of publication of this review, a correction was observed, which slowed down the ascent of the coin. The main resistance level now stands a mark of $310, traders believe. As soon as Ethereum overcomes it, course appreciation can resume with a new force.
At the same time, Bitcoin hashrate set a new historical maximum. The aggregate processing power of the Bitcoin network has updated the historical maximum at 74.548 EH/s.
This record was achieved on July 5, after which the figure dropped slightly to 60 EH/s.
At the same time, the indicator of the bitcoin mining difficulty is also at the maximum.
The size of the average transaction commission in the network of the first cryptocurrency dropped below $2 as well, although at the beginning of the month it was at the mark of $4.
