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The cryptocurrency market continues its nice begin to the week, with the main cryptocurrencies presently in the inexperienced.
The broader crypto market continues its glorious begin to the week, including almost 2% to its whole market cap. At press time, the whole 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 presently trades above $41k per coin.
Ether, the second-largest cryptocurrency by market cap, has additionally carried out nicely in the final 24 hours. ETH is presently buying and selling above $3,100 per coin, up by greater than 2% thus far at this time.
In the final seven days, ETH has added almost 3% to its worth, making it considered one of the poor performers amongst the prime 10 cryptocurrencies by market cap.
However, with the bullish development presently in play, Ether may report additional positive aspects over the coming hours and days. The cryptocurrency may goal the $3,500 resistance level in the brief time period.
Key ranges to observe
The ETH/USD 4-hour chart is presently impartial as Ether’s ongoing constructive efficiency cancels the losses recorded just a few days in the past. The technical indicators present that Ether’s value motion is presently bettering.
The MACD line is round the impartial zone, indicating that Ether is now not in the bearish area. The 14-day RSI of 58 exhibits that ETH may enter the overbought territory if the present 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 first main resistance level at $3,227 earlier than the finish of the day. However, the second main resistance level at $3,350 ought to cap additional upward motion in the brief time period.
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