- Ethereum showcased bull rally in the crypto market while hitting a new all-time high of $1467 after breaking from its previous year high
- The pair of ETH/BTC is trading at 0.04261 BTC with a minor loss of -1.51% in last 24-hour time frame
Ethereum (ETH) surged to a new all-time high of $1467 after clearing its previous year high of $1432, post BTC rally. ETH is presently trading above all the major Exponential Moving Averages (EMA) of 20, 50, and 200, whereas 50-EMA is acting as a support line. The lower side’s support level is placed at $1040, and $720, which acts as a strong support level. Similarly, the resistance at the high side is situated at $1480 and $1560.
Ethereum (ETH) is trading at $1395 with an intraday gain of +5.76%, after hitting its new 52-week high of $1467, while some selling pressure is observed as it slipped from higher levels. The coin projects an uptrend making higher highs and lower lows, while the overall market condition favours the alt-coins. The support on the daily chart is placed at $1370 and $1320. Meanwhile, resistance on the higher side is placed at $1480 and $1530. The volume traded is $43,442,958,536 which is up by +38.73% in intraday, meanwhile market capitalization stands at $160,895,579,751 while jumping over +6.89%.
Relative Strength Index (Bullish) indicates a bullish momentum while trading at 61.26. However, it is currently trading near the overbought zone and is recovering from the oversold region.
Moving Average Convergence Divergence (Bullish) currently indicates a Bullish trend on the daily chart as it gives a positive crossover with the significance of buying signal line (green) over sellers line(red).
Support levels: $1040 and $720
Resistance levels: $1480 and $1560
