Ethereum Reaches Highest Daily Trading Volume in Over a Year

Ethereum Reaches Highest Daily Trading Volume in Over a Year

The time is now, Ethereum is recovering its mojo and despite the price is not that hot, trading volume is reaching yearly highs, according to a market value research made by CoinMarketCap.

The CoinMarketCap research found that Ethereum trading volume reached $5.4 billions over the last 24 hours, the highest level of trading volume of the ETH cryptocurrency since February 2018.

It is a very positive technical event for Ethereum as a robust trading volume linked with increasing ETH prices could be signalling further gains in the middle term.

ETH/USD is now trading in a consolidation pattern around 145.70. The pair is moving up again after rejecting the 150 area on Tuesday.
Technical conditions are suggesting a short period of consolidation as the pair presents overbought conditions but the price, and the creatures, are dangerous.

As for the short term, next resistances are located at 150.00, and above there, please check the important 160.00 area as the new selling zone.

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