Ethereum blasts to the highest since May

Ethereum blasts to the highest since May

Ethereum breaks out of the range

Ethereum breaks out of the range

Ether has jumped in the last hour, soaring another $200 to a nearly 10% gain on the day at $3721.

Signs are pointing to the madness in NFTs as the catalyst for the latest bump. Sales of NFTs are usually settled in ETH and that’s created a demand from buyers as prices of NFTs continue to climb and spread.

Technically, there’s a beautiful period of consolidation in August after the triple bottom in May/June/July and it points to a very healthy market that’s now only a hiccup away from the May highs.

The NFT madness will end in tears and is reminiscent of the ICO craze that sent ETH to highs in 2017 but I don’t think we’re in the final innings yet.

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