Ethereum Gains 10% In 24 Hours after coming close to falling back under $1,000
Ethereum (ETH) climbed about 10% in the past 24 hours to $1,155 after coming close to falling back under $1,000
The live Ethereum price today is $1,134.26 with a 24-hour trading volume of $17,202,132,633 Ethereum is down 1.92% in the last 24 hours. The current CoinMarketCap ranking is #2, with a live market cap of $137,732,769,451 USD. It has a circulating supply of 121,430,127 ETH coins
The world's second-biggest cryptocurrency has experienced a robust comeback in a short period. with buying activity over the U.S market holiday bolstering prices.
This year concerns about a U.S economic slump and a slew of crypto bankruptcy have harmed the altcoin.
Previous 24 hours, ETH/USD fluctuated between $1,086 and $1,165 showing high volatility the trading volume for the pair has climbed by 32 % to a total of $15.3 billion while the entire market capitalization fluctuates about $132 billion.
Since the previous significant swing down at $1,000 seven days ago the ETH price has been reversing slowly after several days of stability the ETH/USD pair continued to advance and blew through the prior resistance at $1,100
The next level of resistance at $1,175 was already breached suggesting that bullish energy is currently strong and that the intermediate-term pricing mechanism may soon begin seeing green again.
The cryptocurrency markets were generally calm during the weekend and on July 4 a vacation for U.S financial markets owing to independence day.
ETH fell below the psychological $1,000 barrier on June 30 but bears were unable to capitalize on the pullback
Right now the bulls will attempt to push ETH lover the 20-day exponential moving average of $1,192 and seize control if they do so the ETH/USDT exchange rate may reach $1,280 and subsequently the 50-day simple Moving average of $1,535.
ETH tells to roughly $1000 the number of tokens moving into exchange progressively grew.
ETH supply on exchange is at its highest level in six months widespread token dumps its congestion exchanges.
This indicates that a strong higher and higher low have been established and bulls are poised for another aggressive move higher throughout the coming week
Related: Ethereum Gas Fees Drop To Record Low As Market Downturn Continues