The leading cryptocurrency Ethereum has diverged from the general market trend over the past 24 hours, achieving modest gains of around 1%. At the time of publication, the coin is trading at $1,842.

This comes as the primary momentum gauge - the buy-sell ratio - rises to its highest level in 30 days, indicating renewed upward pressure in the asset's futures market.

Traders are anticipating a rise in ETH with increased buying pressure and buildup.

According to CryptoQuant, the buy-sell ratio for Ethereum is currently at 1.08, marking its highest value since early April.

$ETH

This gauge measures the ratio between buying and selling volumes in the Ethereum futures market. A value above 1 indicates that more traders are aggressively buying Ethereum contracts than selling, while values below 1 suggest dominant selling pressure.

At 1.08, the buy-sell ratio for Ethereum clearly favors buyers, reflecting increased confidence among traders that prices may continue to rise.

Furthermore, the Relative Strength Index (RSI) for the cryptocurrency continues to trend upward, supporting this bullish narrative. At the time of publication, it stands at 58.39 and is rising.

The Relative Strength Index measures the market's condition in terms of overbought and oversold status for the asset. It ranges from 0 to 100, with values above 70 indicating that the asset is overbought and may be at risk of a decline. Conversely, values below 30 indicate that the asset is oversold and may see a rebound.

The reading of Ethereum's Relative Strength Index confirms the increasing bullish bias toward the cryptocurrency, reinforcing the view that it may be poised for further gains.

Ethereum is building its strength above short-term support.

At its current price, Ethereum is holding above its 20-day Exponential Moving Average (EMA), which provides dynamic support below its price at $1,770.

The 20-day Exponential Moving Average measures the average price of the asset over the last 20 trading days, giving more weight to recent prices. When the asset trades above this key moving average, it indicates short-term bullish momentum. This suggests that recent prices are trending upward compared to the average over the past 20 days. Traders often view this as a sign of underlying strength or the beginning of a bullish trend.

Therefore, Ethereum could maintain its rise towards $2,027 if buying pressure gains momentum.

On the other hand, if buying activity declines, the coin may lose its recent gains, breaking below the 20-day Exponential Moving Average, and dropping toward $1,385.