The price of ethereum’s native cryptocurrency ether (ETH) surpassed $300 today to hit ten-month highs.
The world’s second largest cryptocurrency by market capitalization climbed above the psychological hurdle at 01:10 UTC and extended gains further to $306 – a level last seen on August 19, 2018.
As of writing, ETH is changing hands at $304, representing 9.7 percent gains on a 24-hour basis and 129 percent gains on a year-to-date basis, according to data source CoinMarketCap.
Ether has more than doubled this year with the price currently reporting more than 260 percent gains on the low of $82.00 seen in December. The price, however, is still down 78 percent from the record high of $1,431 registered in January 2018.
Further, the cryptocurrency has retraced meager 16 percent of the sell-off from $1,431 to $82. On the other hand, BTC has retraced more than 40 percent of the bear market slide and is currently trading at a 15-month high of $10,800.
Looking forward, ether looks set to extend the ongoing rally, as technical charts are biased bullish.