Ethereum Experiences 6.19% Surge in 24-hours, setting the Trend to Neutral

Altcoins Cryptocurrency News Price Analysis

After almost a month, Ethereum (ETH) has started experiencing a positive trend. Still, the growth rate for Ethereum for an entire month is in the negative. The data shows that the trading price of Ethereum has experienced a 15.67% weighted dip in the past 30-days.

Past 7-day Performance

If we look at the past 7-day performance of Ethereum, we see that it has experienced a weighted growth of 2.66%. Then in the past 24hours, the weighted growth Ethereum has exhibited is 6.19%. Due to the surge, the trading price of Ethereum has been pushed up to a high of $2,946.01 per ETH.

The trading volume for Ethereum has been pushed up by 30.50% in the past 24-hours. At the time of writing, the trading volume for Ethereum is worth $18,082,692,415. The fully diluted valuation for Ethereum has also been pushed up by 6.19% in the past 24-hours.

Despite the high buying power of the investors, the trend for Ethereum is still not in the bullish zone. Fortunately for the bulls, the recent rally formed by the bulls has shifted its trend from bearish to neutral. Still, it is a positive sign for the investors as Ethereum’s trend is now in the neutral zone from the bearish.

Technical Indicators for Ethereum

The technical analysis for Ethereum is currently hinting at a neutral trend in favor of Ethereum. The report shows that due to the recent rally, the overall sentiments of the investors have moved into the neutral zone.

Both the moving averages and the oscillators for Ethereum are currently indicating a neutral trend. The data shows that only 9% of investors are willing to buy Ethereum and the same number of investors are willing to sell it. The rest of the investors are currently in the neutral zone and are waiting to see where the trend for Ethereum moves in the near future.

The relative strength index for Ethereum is currently at 49.65 and the ultimate oscillator for Ethereum is also at 51.38. This means that the investors can try and move the trading price of Ethereum in any direction.

Positive Growth of Ethereum

The data surrounding Ethereum suggests that the bulls are attempting to push the trading price of Ethereum to $3,053.98 (100-day EMA). Going forward, the investors may try and push the trading price of Ethereum into the strong resistance zone.

To achieve this, the bulls may try and push Ethereum’s price to $3,154 per ETH. As the sentiments of the investors grow more bullish, Ethereum’s price may surge to $3,338.51, and then to $3,544.08

Negative Growth of Ethereum

If the bears launch their selling trend, then the trading price of Ethereum may plummet to $2,874.86. Going forward, the investors may sell Ethereum at an even higher rate, pulling its price down to $2673.00, and then to $2,488.11.

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