Ethereum, the second-largest cryptocurrency, has seen its price rise by more than 6% in the past 24 hours, U.Today reported. Currently, Ethereum is trading at $3,320 on major spot exchanges. However, the price of the Ethereum/Bitcoin pair is still down 15% from its peak on January 12, 2024. According to data from the 100eyes Crypto Scanner account, Ethereum is now approaching the key horizontal resistance of $3,300. In addition, the price of Ethereum has resumed its rise despite the fact that Consensys, a major supporter of Ethereum, recently sued the agency for receiving a Wells Notice from the SEC. The SEC wants to expand its jurisdiction by classifying the flagship altcoin as a security, the Consensys company claims. In addition, some analysts believe that the SEC may face another lawsuit from Grayscale for refusing to approve a series of spot Ethereum ETFs in May.