Ethereum Soars 20%, Fueling Hopes for an Altcoin Rally

Ethereum has experienced a significant surge, rising nearly 20% in just 24 hours, pushing its price past $2,300 and briefly exceeding $2,486. This impressive jump is fueled by increased trading volume, surging to a massive $51.56 billion. The coin has regained crucial support levels on its charts, reclaiming its 20-day EMA at $1,869 and hovering near the 50-day EMA at $1,883. This resurgence in price brings about speculation for a broader altcoin season.