The current price of Ethereum ( $ETH /USDT) is hovering around $2,433.82, a significant increase since a few days. The intraday high hit $2,439.10 whereas the low hit $2,288.28; a high level of volatility and of trading.
đ Technical Overview
- Moving Averages: The diamond (ETH) is currently trading above its 50-day and 200-day moving averages and we are in a strong bullish trend.
- Relative Strength Index (RSI): The RSI is heading into overbought zone bringing us to the zone that indicates that there is high pressure to buy but also signally that buying may go too far.
- MACD: MACD line is above the signal line; confirming bullish momentum.
đ Market Sentiment
Analysts are expecting that ETH, may continue its upward movement, with short term price levels lying between $2,250 and $2,400. The breakout from consolidation patterns and a higher level of trading volumes in the recent past support this positive mood even further.
â Conclusion
Ethereum is showing pronounced bullish momentum, as a result, positive technical indicators, and the result of having bullish market sentiment. The traders and investors should keep an eye on the major opposition levels at about $2,400 and support levels at roughly $2,250 in order to plan for possible price events.