The bears were hibernating in the crypto-verse for quite some time. During the course, several coins like Ethereum [ETH], Bitcoin [BTC], XRP as well as Binance Coin [BNB] lost all the gains acquired during the recent rally. Nevertheless, the coins were back on track as the entire market was flaunting the color green.
Ethereum [ETH] seemed to have finally broken off its dry spell as it rose above $2K. At the time of writing, ETH was trading for $2,185, with a 9% surge in the last 24-hours. The last few days were relatively favorable for the altcoin as it bagged gains of about 22%.
In terms of market cap, ETH remained untethered. The altcoin stayed as the second-largest cryptocurrency while its market cap was at $253 billion.
Ethereum [ETH] one-hour price chart on Binance
The short-term price chart of ETH revealed that the altcoin witnessed significant growth. The Parabolic SAR indicator formed a series of dots below the candlesticks, which further acted as a line of support against a downtrend. The Awesome Oscillator indicator drifted away from the red zone and formed green closing bars insinuating the presence of the bull in the Ethereum market.
The Relative Strength Index indicator noted strong buyers’ sentiment as the marker was way over 50 median, almost hitting the overbought zone.
Bitcoin [BTC] one-hour price chart on Binance
Crypto lovers breathed a sigh of relief after Bitcoin [BTC] navigated its way back on to $35K. At press time, BTC was trading for $35,808 with a 4.02% rise in the last 24-hours. The market cap of BTC also observed recovery as it jumped to $669 billion further pushing the overall numbers to $1.46 trillion.
The one-hour price chart of BTC echoed the same notion found in the ETH market. The Chaikin Money Flow indicator stayed intact in the bullish arena over the zero median. The Klinger Oscillator formed a bullish crossover and affirmed the presence of the bull.
A buyers’ market was noted and confirmed by the Money Flow Index indicator.