The cryptocurrency market continues its fantastic begin to the week, with the key cryptocurrencies at the moment within the inexperienced.
The broader crypto market continues its wonderful begin to the week, including practically 2% to its whole market cap. At press time, the entire cryptocurrency market cap stands above $1.9 trillion.
It may quickly cross the $2 trillion mark if the present market momentum is maintained. Bitcoin stays the main cryptocurrency by market cap and at the moment trades above $41k per coin.
Ether, the second-largest cryptocurrency by market cap, has additionally carried out properly within the final 24 hours. ETH is at the moment buying and selling above $3,100 per coin, up by greater than 2% to date right now.
Within the final seven days, ETH has added practically 3% to its worth, making it one of many poor performers amongst the highest 10 cryptocurrencies by market cap.
Nonetheless, with the bullish pattern at the moment in play, Ether may document additional positive factors over the approaching hours and days. The cryptocurrency may goal the $3,500 resistance stage within the quick time period.
Key ranges to observe
The ETH/USD 4-hour chart is at the moment impartial as Ether’s ongoing optimistic efficiency cancels the losses recorded just a few days in the past. The technical indicators present that Ether’s worth motion is at the moment enhancing.
The MACD line is across the impartial zone, indicating that Ether is not within the bearish area. The 14-day RSI of 58 exhibits that ETH may enter the overbought territory if the prevailing market momentum persists.
At press time, ETH is buying and selling at $3,100 per coin. If the bulls stay in management, it may surpass the primary main resistance stage at $3,227 earlier than the tip of the day. Nonetheless, the second main resistance stage at $3,350 ought to cap additional upward motion within the quick time period.