Bitcoin [BTC], Ethereum [ETH], Binance coin [BNB] and almost all the assets in the crypto market were seen recovering from its latest setback. Bitcoin had finally pushed past a major line of resistance as it rose over $50K. At press time, BTC was trading for $54,061 with a 8.53% daily surge. BNB was back in action as it surged by over 18.22% further helping its price get back into $300. Additionally, the altcoin took over its place as the third largest cryptocurrency pushing Cardano [ADA] down to the fourth.
Ethereum had a brief stay over $2K as the asset dropped down below $1.5K in no time. However, ETH seemed to have found the road back to $2K. During the time of writing. the altcoin was trading for $1,826 with a 8.29% rise over the last 24-hours. Following the trail of Bitcoin, ETH rose with regard to market cap as well. The altcoin’s market cap was noted at $209.19 billion.
Ethereum [ETH] One-Hour Price Chart
The short-term price chart of ETH taking a breather before its big move. The Awesome Oscillator indicator on the altcoin’s one-hour price chart was noticed forming red closing bars. These bars pointed out the presence of the bears. Despite this bearish sentiment in the ETH market, the asset went on to deliver a buyers’ sentiment. The Relative Strength Index indicator was seen at 60 median recovering from the overbought zone.
Ethereum [ETH] One-Day Price Chart
The one-day price chart of ETH brought in hope into the market. The Parabolic SAR indicator formed dotted lines below the candlesticks negating the possibility of a down trend. The Chaikin Money Flow indicator mirrored this sentiment as it was over zero delivering a bullish notion. The Money Flow Index indicator was at 60 median suggesting that a buyers’ sentiment was intact in the ETH market.
With almost all the signs inclining towards the bulls, ETH is most likely going to hit $2K, sooner than expected. However, the bears in the short-term chart of the asset could slow down this process.