The value of Ethereum caught a tailwind on Tuesday, as a series of technical trades brought ETH/USD above critical resistance levels.

ETH/USD held firm in the early hours of Wednesday trading, where it was seen hovering around $336. The cross has added 6% over the past 24 hours on higher trade volumes. With the gain, ether climbed above key technical hurdles situated at $315 and $325, signaling continued upside for the pair.

At current levels, ether’s total market cap is valued at $32.13 billion, enough for second on the global cryptocurrency list. Ethereum briefly fell to third place on the list after Bitcoin Cash quadrupled in price over the weekend.

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Ethereum has struggled in recent months, but appears poised to continue higher after this week’s technical breakout. The market remains well below record highs, which appear closer to $400.

The ether blockchain continues to be the platform of choice for token issuers. This is expected to continue as more companies adopt smart contracts.


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