Ethereum is not only running bullish but also breaking all records. The coin is approaching $500 mark, and with the current trend, it can be said that the coin will breach that mark soon. The market cap of the coin also skyrocketed with over $47 billion, an all-time for Ethereum. The trading volume also shot up with last 24 trading volume being over $1.278 billion.
Key Highlights:
- Ethereum is breaking all records and is currently trading at a new all-time high above $490
- ETH/USD appreciated 37.5 percent week-on-week and 7.4 percent in the last 24 hours.
- With 13.7 percent weekly gain, ETH/BTC pair is currently trading at 0.050 BTC
In the weekly graph, the token is experiencing a steep rise throughout the week. The rising value also resulted in a few buying rage which took the price even higher. Though the token encountered a few resistance level on the way, it finally breached those. At $475, ETH/USD pair faced a strong resistance and also took a dive to $447, but there it found support which also acted as a pivot. The coin gained 37.5 percent over the week and is on a record-breaking streak.
In the daily chart, the coin pivoted from the support level at $447 and is soaring since then. With a strong bull, the coin crossed $490 recording a new all-time high and also currently trading at $490. On the daily chart, the pair gained 7.4 percent.
Because of the bullish nature of the token, the technical indicators are also running bullish. MACD curves are also soaring after the dip due to the resistance at $475. Stoch and RSI are also bullish, but they are way beyond the overbuying mark. This is indicating an exhaustion among the buyers, and we can see a short-term dip in the value. Currently, RSI is at 79 percent. 100 SMA is also running above the 200 SMA indication an upward least resistance.
Against Bitcoin, the value of Ether reached a week peak at 0.058 BTC, but soon the soaring Bitcoin resulted in a fall of ETH/BTC pair. Currently, the pair is trading at $0.050 BTC with a weekly appreciation of 13.6 percent.
