ETH Price Has Risen Over The Past 2 Days And Appears To Be On The Upswing

ETH price has risen over the past two days and appears to be on the upswing

At the time of writing, ETH price increased by little more than 1% over the previous 24 hours, rising to $1,242.47. This furthers its outstanding success on the weekly chart, as its price increased by around 26.29 percent in the previous week. ETH’s value has increased by 1.19 percent in comparison to BTC. Right now, 1 ETH token is equivalent to around 0.05807 BTC.

The market capitalization of ETH has increased to $151.14 billion as a result of the recent climb in price.

Looking at the daily chart for ETH/USDT, ETH price has returned to the point where it was a few weeks ago following a 2-candle rise, with today’s candle appearing to close favorably as well. The price of ETH is currently higher than the 9 EMA.

Given multiple positive signs, the 4-hour chart suggests that the upward trend in ETH’s price may continue. The 9 EMA is positioned above the 20 EMA and represents the first bullish flag. The position of the ETH price above both of the aforementioned EMA lines comes next. Another positive indicator is that the RSI is attempting to cross above the RSI SMA line.

There is still lot of buying space until ETH enters overbought territory given that the RSI is currently about 39.77 on the daily chart for ETH. The next objective for ETH would be $1,600 if it were to break through the present resistance level on the 4-hour chart.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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