Ethereum approaches $3K resistance as Bitcoin price rebounds toward $40K

Ethereum’s Ether token (ETH) enjoyed a “massive” rebound towards $3,000 on Aug. 5 as optimism flowed in after its London hard fork went live.

ETH/USD 1-hour candle chart (Bitstamp). Source: TradingView

Data from Cointelegraph Markets Pro and TradingView showed ETH/USD climbing swiftly to local highs of $2,820 on Bitstamp Thursday.

The sudden burst of enthusiasm countered a downtrend which had set in after the initial uptick following London’s successful deployment the day before.

After a wick…


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