We expected some erratic price changes for the crypto market leading up to tomorrow’s US inflation report, and Ethereum (ETH) seems to be one of the biggest winners in the price war right now. This major crypto climbed 8.88% today, achieving a rate of $1,838 (ETH/USD).

Ethereum’s Long Climb

We have seen Ethereum go higher and higher over the last 30 days. It was suffering from a low price of $1,040 on the 13^th of last month, following weeks of volatile pricing.

Ethereum is at its highest point in months right now, enjoying increased interest recently, with a trade volume of $21.5 billion. That’s a nearly 25% increase over the last 24 hours, which is astounding.

Ethereum has been one of the few cryptocurrency success stories over the past few weeks. Most crypto tokens are down across the last several weeks, but Ethereum is a bright spot on the market.

ETH is still down overall for the year, having fallen to its current rate from $3,732 at the beginning of the year. It has a long way to go to make money back for those who started off the year investing in it, but things are looking up at the moment.

Will the Bullish Trend Last?

The question now is whether hearing will continue to gain ground or if the recent price jump is an aberration. We can’t say for sure how things will go after the inflation report is released. The market is likely going to see either a massive jump or spike following the report.

If the news isn’t great, we expect Ethereum will not hold on to its recent gains. The size of its most recent jump is simply so large that it is unlikely to be sustainable in a volatile market. This may be as high as Ethereum goes before the next price drop, so those who have invested recently should prepare to cash out.