The second-largest cryptocurrency, Ethereum has been moving into a volatile zone which may push the price of the digital asset even higher. The price noted a downtrend in the short-term but bounced back once it hit support at $1,980.20.
At the time of writing, the price of Ethereum was pushing close to the resistance at $2,052.40 and was trading at $2,043. The market capitalization of the digital asset was reported to be $238.42 billion.
Ethereum 1-hour chart
The above chart indicated that the downtrend in the price has given rise to more volatility in the market. However, as the market rebuilds, it may be preparing for a surge shortly.