The latest Ethereum price analysis shows a bullish trend as the cryptocurrency continues to surge above the $1,800 mark. The market opened today’s trading in a bearish zone as the bears attempted to take control of the market. However, this bearish pressure was soon countered by a surge in buying activity as investors buoyed up ETH prices. This has pushed the value beyond the $1,800 mark and into the $1,875 range.
The 24-hour volume for ETH has also seen an increase of 3.91 percent, indicating increased bullish activity from investors. Furthermore, the trading volume for ETH stands at $11 billion which is higher than most of its peers in the cryptocurrency market. The market cap of ETH is currently at $224 billion, making it the second-largest cryptocurrency by market capitalization.
Ethereum price analysis 24-hours: Bulls take control at $1,875 as the support level remains at $1,771
The 24-hour Ethereum price analysis shows signs of an upward trend as more buying activity has taken place in the last 24 hours. The buyers are putting in their efforts to maintain the bullish lead, and the price has been uplifted to the $1,875 level. Although the coin has been maintaining its price levels during the last two weeks, the current bullish activity is driving prices higher.
The price has just crossed the moving average (MA) value of $1,799. This indicates that the bullish sentiment has been strong and any corrections in price will face support at this level. The moving average converge-diverge (MACD) indicator is also in the bullish region, indicating that the bulls are still in control of the market. The Relative Strength Index (RSI) indicator stands at 62.74 and is still climbing, suggesting that ETH prices may face a further increase in the short term.
Ethereum price analysis: Recent developments and further technical indications
The four hours Ethereum price analysis confirms that the cryptocurrency has been following an uptrend for the past few hours, as the bulls have been leading the market for a while. Bulls gained momentum at the start of the trading session and rallied extremely high, as the price has reached $1,875 at the moment.
The moving average value in the four hours price chart has increased up to the $1,820 mark. The 50-day MA is steady at $1,869, and the 200-day MA is also holding steady at $1,872. The MACD indicator and the Relative Strength Index (RSI) are still in the bullish region, indicating that Ethereum could reach higher price levels in the short term. The histogram has also flashed a green signal, indicating that the bulls are still in control of the market. The Relative Strength Index (RSI) is currently at 67.27, and it appears that buyers will continue to drive ETH prices higher in the short term.
Ethereum price analysis conclusion
Overall, Ethereum price analysis shows a bullish trend as buyers are pushing for higher highs. The four-hour chart also provides good indications about the direction of ETH prices for now. The buying activity has been strong, and the support level is currently at $1,771, which is providing a cushion. The short-term indicators are also in the bullish region, indicating that ETH could go for further gains if buyers keep up the bullish momentum. Investors should keep an eye out for any sudden corrections as well to gauge the market sentiment and act accordingly.
While waiting for Ethereum to move further, see our Price Predictions on XDC, Cardano, and Curve.
