ETH reboots – All attention is currently focused on the king of cryptocurrencies, which has approached $90,000 and looks set to finally touch $100,000. And even though it’s Bitcoin that attracts investors the most, Ethereum (ETH) still managed to get back above the $3,000 mark. Let’s take stock of the ETH situation right now in today’s bulletin!
Ethereum price will increase by 3% in 24 hours
Return over $3,000THE The price of ethereum is back in the green against the dollar for six months. ETH continues to push as the price is higher than 30% in one week az 3% in 24 hours :
Ethereum performance against different pairs. Source: Coincheckup
ETH outperforms BTC in a weekbut the ETH/BTC pair down 4% in one monthfrom 15% in three months and more than 15% in six months.
Ethereum price drops to $2,900 weekly
Ethereum price correction – between March and August – no it did not generate a break at the level of the bullish trend line. And after two passes on the level support of $2,150the price finally found its way back up. THE institutional bias (EMA 9/EMA 18) bears he eventually gave up, just like resistance at $2,900 :
The course should separate from dealers present for $3,500 to be able to find year high over $4,000. If the seller resists, they will return support of $2,900 is entirely possible. Thanks bullish volatility recorded last week, ETH signs double bottom weekly.
RSI recently broke the bearish trend line and continues to draw rising troughs and peaks. THE the momentum is in the hands of the bulls.
ETH lets loose with $2,700 break
Since August, the $2,700 level was a barrier during. But with bitcoin, which has clear exceeded $70,000ETH has finally succeeded get rid of sellers around $2,700. To the delight of fans of Vitalik Buterin’s work, ETH is back above $3000 :
The course could be based on support of $3,250 return to altitude daily resistance at $3,500. This is a level that has none not visited since July. But if the course will fall below $3,250more support is around $3,100. And in case deeper correctioninstitutional bias around $2,900 could allow a bounce. For his part, a momentum indicator RSI is bullish and beyond that bullish trend line. THE buyers have their hands on the momentum.
Ethereum is back above $3000, but it will still need to break the weekly resistance at $3500 to make a new high in 2024. There is still a way to go before a return to the 2021 ATH, but ETH seems to be waking up with a break of the $2,700 level that has been pushing the price back since August. And even if the price recolors, the whales continue to behave very differently than in 2021.