Ethereum Breaks 8-Year Resistance Barrier, Surging Past $4,800

Ethereum experienced a significant surge, reaching $4,837 within 24 hours, approaching its all-time high of $4,878. The rise was driven by bullish sentiment fueled by Federal Reserve Chair Jerome Powell’s Jackson Hole speech hinting at potential interest rate cuts. The second-largest cryptocurrency also broke through a critical technical barrier against Bitcoin that had held for nearly eight years, according to analyst data reviewed Friday.