Source: TradingView
The Ethereum price has risen by 4.5% in the past 24 hours, with its surge to $1,669 happening as the cryptocurrency market recovers from its weekend selloff.
Its current price means that it has risen by 6.5% in a week and by 8% in the last 30 days, with the altcoin also up by 39.5% since the start of 2023.
And with ETH being possibly the most fundamentally sound coin in the market, it has every chance of enjoying further gains as the year progresses.
ETH's chart is painting a bullish picture at the moment, with its relative strength index (purple) jumping up to 60, having been at an oversold 30 a few days ago.
Source: TradingView