Ethereum price rebounds as market changes course

Ethereum (ETH) is once again in the green today, after gaining more than 8% in the last 24 hours to reach its current value of $277. Against Bitcoin (BTC), Ethereum is also performing similarly well, and is up more than six percent against the number one cryptocurrency in the last day.

As it stands, Ethereum has pushed through the $270 resistance which it briefly touched several times in the last day, and is now testing $280.

This bullish price action interrupts three straight days of decline for the cryptocurrency, which fell from a peak of more than $286 on Saturday, down to a low of $245 yesterday. Overall, the cryptocurrency is up more than 7% for the week and 50% for the month, making it one of the best performers over all short-term timescales.

It isn't just Ethereum that's back on the up and up; most other altcoins have also returned to life today, with every cryptocurrency in the top 20 by market capitalization now strongly in the green. In total, almost $7 billion was added to the combined market capitalization of all cryptocurrencies, bringing the total crypto market cap to over $289 billion.