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Ethereum’s price has risen above its resistance near $ 500 and is currently valued at $ 505.37. This not only marked an annual high for ETH, but has also been an invisible price level since July 2018.
Source: ETH / USD on TradingView
This bull run in the market could be provided by news from the US Securities and Exchange Commission [SEC] giving its approval to the Grayscale Ethereum Trust [ETHE] as the first publicly traded ETH investment product in the country.
This would allow users to buy and sell stocks during trading hours just like in traditional markets.
Following Ethereum’s lead, many halts have gone up. Most of the altcoins had consolidated with the rise in the Bitcoin market. However, with the ETH breaking the ice and moving higher, the performance of most of the halts has been bullish over the past 24 hours.
Source: CoinMarketCap
At the time of writing, Bitcoin’s value was $ 18,317, but no specific price increases have been observed. The value of BTC was testing the resistance at $ 18,400 but has not yet surpassed it.
Ethereum has a lot to look forward to as a platform as it will begin its move to Ethreum 2.0 hopefully in December with Phase 0. For now, the requirements for this move have not been met and we could see the launch of the Beacon chain being pushed.
