Ethereum has ascended to new yearly highs after breaking the recent peak achieved in January. The flagship altcoin is trading at $1,372 amid the push for gains eyeing $1,400. However, a daily close is required above $1,350 to validate the uptrend.
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ETH/USD 4-hour chart
As reported on Monday, Ethereum’s expected uptrend has been validated by on-chain metrics such as the network growth and the high number of whales. From a technical perspective, short term analysis suggests that buyers will remain in actin a while longer, especially with the 50 Simple Moving Average above the 100 SMA.
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