The price of Ethereum (ETH) has been making new highs despite the fact that bulls are taking a moment to recover their breath following an incredible run. This gradual movement appears to be laying the stage for a slight pullback, but depending on the price of Bitcoin and how it behaves, things might very well alter dramatically.

According to the most recent data obtained, the total value of all cryptocurrencies has increased by 0.31%, reaching $1.05 trillion. Trading activity has also witnessed an increase of 6.96% to $53.53 billion at the time of this writing. The price of Ethereum, on the other hand, recently breached the macro downward trendline. The consensus among market watchers is that a significant amount of buying confidence might be generated for a new uptrend in Ethereum (ETH) prices if the altcoin king is successful in overcoming the lower high of $1,700.