Soon before press time, the ether-U.S. dollar (ETH/USD) exchange rate had reached a fresh all-time high of $444. As per CoinMarketCap, the world’s second largest cryptocurrency has appreciated by 11 percent in the last 24 hours.
Total trading volume jumped to $1.845 billion yesterday – the highest since Sept. 15. A high volume rally indicates strong hands are at play and more records could be set over the weekend.
Again, South Korean desks are firing on all cylinders. Volumes in the ETH/KRW pair offered by Bithumb, one of the largest cryptocurrency exchanges in the country, have gone up by 13.57 percent today.
The price action analysis indicates scope for a rally to $460-$470 levels in the short-term…