Ethereum Price Prediction as ETH Spikes Up 6% – New Rally Starting?
ETH has jumped by 6% today, with the Ethereum price rising to $3,659 as the cryptocurrency market gains by 5.5% in 24 hours.
The altcoin has now gained by 12% in a week, with it also marking a 21% gain in the last 30 days and a 104% rise in the past year.
ETH’s strong rebound comes as Bitcoin ETF inflows turned positive yesterday for the first time in almost a week, with this transition potentially signalling the start of another rally.
And with Ethereum comfortably remaining the strongest altcoin in the market, it’s likely to see further gains soon.
ETH’s chart looks very positive at the moment, with the coin certainly capable of continuing its streak before it enters an overbought space.
Its RSI (purple) has touched 70 again after sinking to 30 at the end of last week, a sign that buying momentum is just ramping up and could stay for a while yet.
Similarly, its 30-day average (yellow) climbed over its 200-day (blue) last night, a sign that it may have begun a breakout.
It’s also encouraging that its 24-hour trading volume has risen in the past day, up from $13 billion yesterday to nearly $23 billion today.
This is a strong signal of accelerating interest, with the past day witnessing a number of large transfers off exchanges.
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