As of writing, ether (ETH) is trading at a record $978. The world’s third-largest cryptocurrency by market capitalization has appreciated by 11 percent in the last 24 hours, according to data source CoinMarketCap.
A deeper look at the individual markets suggests the cryptocurrency is trading above $1,000 on Asian exchanges offering ETH/KRW pairs. Meanwhile, on western exchanges, ETH is trading slightly below $950 levels.
Notably, 24-hour trading volume stands at $5.83 billion, which marks a 125 percent increase since Jan. 1. A high volume rally indicates strong hands are at play and the move has legs.
The technical chart also indicates scope for a rally to $1,045 levels…