Ethereum, the greatest altcoin by market cap, is ranked right after Bitcoin in the global crypto market. ETH, in the ongoing month, breached the major 2-year resistance above $400 at $447 with a steep surge recorded in the previous month.
After trading laterally in the past two years, Ethereum has recorded a moderately volatile movement notably below $400. It is the most preferred altcoin investment option for the long-term after Bitcoin. Just as Bitcoin is the crux of the entire crypto market, Ethereum is the crux of the entire altcoin market and is often having a concurrent motion with Bitcoin.
Ethereum, on the above 2-day chart, is seen drawing a bullish crossover against the US Dollar as it trades at $406 below the recent high yet above the major support at $400. ETH coin holds support from the daily MAs around $275 and $200 price area. The price trend of ETH/USD is already hitting the upper Bollinger Band due to bullish crossover in the intraday on the daily chart.
The other two technicals are completely bullish as the MACD line crosses above the signal line as Ethereum trades above $400 with a bullish intraday. The RSI is marked at 69.79 and is inclined towards the overbought region due to the increased demand for the coin. Therefore, check on ETH Price Prediction and get further price change updates to know the future occurrence before!