Crypto market analysis

[radex78]

Shocked today Ethereum gains 4.12%

Ethereum price broke $3000 and reached $3108.82, compared to Bitcoin's today's gain of only 0.31% at the time of writing.

ETHUSD price range for the last 24 hours was Low $2,984.01 and High $3,117.43. It appears that ETHUSD is forming a long-body bullish candlestick with a higher high on Ticktrader FXOpen UK.

Crypto Patel reported on a post in Coinmarketcap that over the past 45 hours, someone purchased 57,500 #Ethereum ($174 million) across Binance and DEXs.

ETHUSD Technical analysis

The summary of the technical analysis by Investing for Ethereum today is strong buy with technical details of indicators RSI(14) Overbought, STOCH(9.6) Buy, STOCHRSI(14) Overbought, MACD(12.26) Buy, ADX(14) Buy, Williams %R Overbought, CCI(14) Buy, ATR(14) high volatility, Highs/Lows(14) Buy, Ultimate Oscillator Overbought, ROC Buy, Bull/Bear Power(13) Buy.

Looking at the price chart on Ticktrader FXOpen UK ETHUSD forms a bullish candlestick with a long body below the upper band line. After the price broke $3000 it continued to rise reaching a high of 3116.963

On the daily timeframe, the Bollinger band appears to be forming an upward channel with a wide band distance indicating bullish sentiment with high volatility.

The 50 MA below the middle band line also forms an upward channel far below the price, an indication of strong bullish momentum. On the other hand, the RSI indicator which measures overbought and oversolc shows a value of 78, which means the price is in the overbought zone. RSI is a leading indicator that provides signals before a trend is formed.

In the H1 timeframe, the price appears to be moving up near the upper band line. Here the Bollinger bands form an upward channel with expanding bands indicating increased volatility.

MA 50 is near the lower band forming an upward channel indicating an uptrend market with strong bullish momentum.

Meanwhile, the RSI shows level 73, which means the price is in the overbought zone.

#ethereum #ethusd #ethereumpricetoday #ticktrader #fxopenuk