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August 13, 2022

Ethereum (ETH) Price Analysis 08/13

Ethereum price is presently rising. As a consequence, it rose from $1,900 to $2,000.00 resistance a few minutes before to the publication of this sentence. The surge began on Wednesday, when the biggest altcoin increased by 8%.

Ethereum completed the trading session at $1,885, up from its starting price of $1,700. Since then, the asset’s price has continued to rise modestly, leading to the present achievement.

The most recent liquidation surpassed that of the previous day, as a greater number of short positions were REKT. The entire amount of liquidated money is $150 million, with bears capturing the majority of rekt capital.

As at the time of writing, all indications are obvious. For instance, the difference between the 12-day EMA and the 26-day EMA is growing. This is conclusive evidence that trade volume favors the bulls.

Additionally, we found a steady increase in the Moving Average Convergence Divergence histogram. The pivot point standard is an additional bullish indicator. Last month, Ethereum’s price soared over its pivot point.

In contrast, this is the first time the currency has taken extra stages. Currently, the asset under examination is trading above its initial pivot resistance; nevertheless, it has not yet acquired stability above it, since minor corrections threaten to cause a decline.

The peak reached by the second-largest cryptocurrency by market cap is a strong evidence of this. It topped out at $2,021. Nevertheless, based on the previously mentioned signs, we may be certain that the bulls are gaining ground in this conflict.

On other news, Celsius also had some good fortune, as its share price increased by more than 6% in the previous day. Consequently, it temporarily surpassed $4. The token is added to the list of assets experiencing significant price spikes. As of the time of writing, it is the leading gainer during the last twenty-four hours.

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