$ETH Currently, Ethereum (ETH) is trading at $3,398.61, showing a growth of 4.87% over the last 24 hours.
Current Indicators:
• Current Price: $3,398.61
• 24-hour Range: $3,130.11 – $3,452.70
• Market Capitalization: $409,770,621,309
• 24-hour Trading Volume: $68,859,190,877
• Circulating Supply: 120,501,725 ETH
Technical Analysis:
• Simple Moving Averages (SMA):
• 50-day SMA: $3,284.64
• 200-day SMA: $3,349.46
A crossover of the 50-day SMA above the 200-day may indicate a continuation of the upward trend.
• Relative Strength Indicator (RSI):
• RSI is around 60, indicating a neutral market state.
Fundamental Factors:
• Network Updates: Ethereum developers plan to upgrade the Pectra mainnet in March.
• Institutional Investments: Spot Ethereum ETFs ETHA and FETH have acquired approximately $500 million worth of Ethereum in two days.
Weekly Forecast:
If the current upward trend continues, ETH may test the resistance level at $3,500. However, in case of negative news, a correction to support levels of $3,200 and $3,000 is possible.
The inauguration of Donald Trump may have a significant impact on the crypto market, including Ethereum.
Please note that cryptocurrency markets are extremely volatile. It is recommended to conduct your own analysis before making investment decisions.
