Ether extended its mid-summer rebound on Wednesday, briefly trading above $3,200 for the first time since February. The move built on Tuesday evening’s break through $3,100 and left the world’s second-largest cryptocurrency up roughly 6.5% over the past 24 hours. The advance has widened Ether’s lead over Bitcoin, with multiple market trackers noting a breakout in the ETH/BTC pair. Technical analysts said the token is approaching the upper boundary of a multi-year consolidation pattern, a level they see as a potential catalyst for further gains if breached. Ether’s recovery comes after several months of range-bound trading and has revived broader interest in alternative tokens. While some commentators predict additional upside, traders are watching whether the coin can sustain momentum above the $3,200 mark that has acted as resistance since early 2025.