Ethereum Price Surges Over 6% in 24 Hours: Key Resistance Level Approached

The price of Ethereum, the second-largest cryptocurrency, has surged more than 6% over the past 24 hours, reaching $3,320 on major spot exchanges. This spike comes despite challenges faced by Consensys, a key backer of the Ethereum network, who recently sued the U.S. Securities and Exchange Commission over regulatory issues.

The ETH/BTC pair is also on the rise, currently sitting at 0.051 BTC after peaking at 0.052 BTC earlier today. This marks a nearly 13% increase over the past two weeks, although it is still down 15% from its 2024 peak.

Ethereum’s price surge has brought it close to a major resistance level at $3,300, with previous attempts to surpass this level resulting in significant corrections. The industry is now watching closely as Consensys prepares for a legal battle with the SEC over the classification of Ethereum as a security.

Despite these challenges, Ethereum continues to show resilience in the market, with analysts predicting potential legal battles and regulatory hurdles in the near future. Stay tuned for more updates on this developing story.