After trading sideways over the weekend, the market has chosen to follow a bullish scenario. All of the top 10 coins are in the green zone while Ethereum (ETH) is the top gainer, having risen 2.20%.
Due to this rise, the market capitalization has also risen over the past 24 hours and is now $264.8 Bln.
The relevant data for Ethereum is as follows.
Market Cap: $26,243,457,198
Volume (24h): $6,766,194,827
Change (24h): 2.34%
The data is relevant at press time.
ETH/USD: Another Attempt to Conquer the Local Heights
On Saturday, the price of Ethereum (EHT) fluctuated in the lateral range, below the two-hour EMA55. On Sunday, we managed to gain a foothold in the field of average prices, and only this morning, buyers on small volumes managed to break above the resistance of $233.33.
During the day buyers were supporting growth in large volumes, and the pair will continue to recover to the POC line ($243.36). In case the volume does not increase, then Ethereum (ETH) will roll back to the area of average prices.
On the 4H chart, Ethereum (ETH) has come out of the consolidation area, having confirmed its short-term bullish scenario. The rise is accompanied by relatively high trading volume which is a positive sign for bulls. What is more, the liquidity is also quite high in the current zones. To sum up, the altcoin could keep rising to the nearest obstacle at $237, which will serve as an important resistance.
The daily chart is not as optimistic as the 4H chart. Trading volume is not rising, which means the ongoing growth is just a bounce before a more profound decline. A more likely move from Ethereum (ETH) will be a test of the top level of the falling channel, followed by a drop to $220.
Ethereum is trading at $234.93 at press time.