At present, the crypto space retains bullish sentiments with major coins staying green.Also, Bitcoin price has broken the $12k resistance with 9% gains, while altcoins demonstrate positive momentum. Ethereum Price is leading second among top 10 crypto market with 6% gains.
According to CoinMarketCap, the total capitalization of all digital coins in circulation hit $357 billion. Addtionally, following the footsteps of Bitcoin, Ethereum is surging exponentially trading above $330 continuously.
According to Coinmarketcap Data :
Ethereum Price $334.96 USD
Ethereum ROI > 9000%
Market Cap $35,721,481,830 USD
24 Hour Volume $10,901,477,071 USD
Circulating Supply 106,645,016 ETH
The coin has recovered from Tuesday’s low of $310 to trade at $334.30 at time of writing. The second largest cryptocurrency with the current market capitalization of $35.2 billion and an average daily trading volume of $10.9 billion has gained nearly 6% in recent 24 hours and stayed bullish since the beginning of Wednesday
According to Technical Indicators
- The Relative Strength indicator has turned bullish on the one-hour time frame which is near to 70 levels. Indicating over brought condition.
- The MACD indicator has turned bullish on the one-hour time frame and continues to issue a buy signal.
- The Parabolic SAR markers were below the candles and showcased a bullish market.
- The Bollinger Band is showing divergent volatility in the market.
- The Awesome Oscillator showed a bullish buying opportunity or short-term momentum in the market.
According to a Popular crypto trader – Benjamin Blunts, Ethereum sparked a massive bull run after it broke out of a symmetrical triangle in 2017. The same setup appears to be in the works, as Benjamin Blunts wrote, “I think I’m having deja-vu here.”
Another crypto trader and analyst – Luke Martin recently shared his thoughts about Ethereum Price. He said that if bitcoin struggles to go above $11,200, he expects the No. 2 cryptocurrency to “go on a tear” and touch $340.
It seems that traders and investors are attracted to the ETH price movements, and the coin may give some moments of exciting trends as the week approaches end.
Moreover, it seems that the second half of the year will be more profitable for the investors as the firm has planned global events to increase ETH’s mass adoption and worldwide acceptance.
However, according to analysis, It seems that ETH price may cross $350 by the end of this week and may trade above $400 in the coming month if Bitcoin keeps surging higher. Also, the coin may be able to cross $500 mark by the end of the year.