Despite being painted in green, several crypto assets barely bagged any gains. Ethereum [ETH] was the only coin that was seen making a comparatively higher rate of profit. The bulls were certainly in the crypto market, but it seemed like they were packing up to leave.
Nevertheless, Bitcoin [BTC] on one hand, stood untethered at $47K. Even though the king coin expanded by 0.68% over the last 24-hours, $48K was still at a distance. XRP and Cardano [ADA] were trying to surge but they could achieve dainty gains up to 1.39% and 2.23% respectively.
Ethereum [ETH] on the other hand was under the crypto limelight. ETH. during the time of writing was trading for $3,617 with a price rise of 5.59% over the last 24-hours. The altcoin has been yearning to hit $4K for a while now. However, the bears continued to dement the asset’s efforts. If bulls decide to retain in the ETH market, the chances of $4K could be underway.
With regards to market cap, Ethereum remains untouched. The altcoin has been standing still as the second-largest cryptocurrency for the longest time now. At press time, ETH’s market cap was at $426 billion. The market cap of the third-largest asset [Cardano] was at $79 billion. This disparity was proof enough that ETH could continue taking over its current ranking for quite some time.
Ethereum [ETH] one-hour price chart on Binance
The short-term price chart of ETH on Binance noted a tiff between the bull and the bear. The Parabolic SAR indicator formed a line below the candlesticks to protect ETH from enduring any sudden downfalls. This affirmed that the bulls were in the ETH market. However, the Awesome Oscillator indicator announced the presence of the bear by rolling out red closing bars.
Furthermore, the Relative Strength Index [RSI] marker was seen traversing onto the overbought zone. But currently, it was situated over 50 median in the buyers’ arena.