On Tuesday, Ethereum outperformed Bitcoin ahead of an upgrade expected to make its network faster and more scalable.
Overall, Ether soared 1000.00% in the past 12-months, surpassing Bitcoin’s 380.00% hike.
As of writing, the world’s second-largest cryptocurrency surged 2.10% to $4,214.73, with a 24-hour change of $85.23.
Additionally, it stands with a market capitalization of $495.01 billion. Consequently, it holds a 24-hour volume of $876.52 million with $4,108.00.
Earlier, the ETH began a fresh increase from the $4,000.00 support zone. It surpassed the $4,120.00 resistance and the 100 hourly simple moving average.
Consequently, the virtual currency crossed above the $4,200.00 resistance, whereas a high formed beside the $4,253.00.
Currently, the Ethereum price corrects lower. In addition, immediate support is near the $4,180.00 level.
It also sat near the 23.60% Fibonacci retracement level of the upward motion from the $3,965.00 low to $4,253.00 high.
On the hourly chart, a bullish trend line was established along with the $4,180.00.
On the upside, there is an immediate resistance along with the $4,240.00 level.
The subsequent major resistance is near the $4,260.00 level, whereas a significant price gain could start a new rally.
In line with this, Ethereum could rally towards the $4,320.00 and even push the price to the $4,500.00 level.
However, it could face a fresh downside correction if it failed to hike against the $4,240.00 and $4,260.00 resistance levels.
Then, the initial support on the downside is close to the $4,180.00 level and the trendline.
Cryptocurrencies Mixed as Ethereum Gained
Conversely, Bitcoin plummeted 0.20% to $62,649.29 with a market capitalization of $1.18 trillion and a 24-hour volume of $1.07 billion.
Meanwhile, Litecoin rose 0.76% or $195.58. It has a market capitalization of $13.46 billion and a 24-hour volume of $56.25 million.
Then, Cardano extended 0.93% to $2.11 with a market capitalization of $68.30 billion and a 24-hour volume of $218.10 million.
At the same time, Ethereum Classic widened 0.05% to $55.74. It has a market capitalization of $7.29 billion and a 24-hour volume of $16.06 million.
Likewise, Polkadot improved 0.04% to $43.74 with a market capitalization of $48.35 billion and a 24-hour volume of $1.13 billion.
Furthermore, Ripple’s XRP advanced 2.48% or $1.12 with a market capitalization of $111.80 billion and a 24-hour volume of $3.95 billion.
