After 3 long years ETH finally breaks its all time high.

Our latest report covered regulatory milestones with banks greenlit for stablecoin use, followed by upward price action. Over the past week, more promising news in the crypto banking and regulatory sectors has emerged, painting a positive picture for ETH bulls.

ETH has grown over 620% in value since this time last year. Let’s take a look at the market forces behind the current bull run, as well as potential areas of support and resistance that may crop up over the coming week.

2020 has been a year unlike any other. The Covid-19 pandemic led to an unprecedented crash across global markets with cryptocurrencies taking on huge losses in March and ETH suffering its worst decline since the 2017/18 bubble.

Ethereum is closing out 2020 in emphatic style with a sharp rally above $730 following an equally impressive run by Bitcoin last week. These price levels for Ethereum have not been seen since a fleeting moment in May 2018, which ended with the collapse of a massive speculative bubble.

Last week saw growth in DeFi, which hit an all-time high in TVL along with multiple bullish indicators and strong fundamentals for the Ethereum network.