In the second quarter, the forecast for ETH is optimistic. Cryptocurrency has risen significantly in value. It soared above $3.8 thousand on May 8. The upward impulse has fascinated many altcoins
At the time of this writing, the price of Ethereum according to CoinMarketCap is $3,847.62. The market value is $445.5 billion.
ETH has been rising since March. The increase in its value is associated with the bull BTC market, the popularity of DeFi and NFT projects. The growth of the cryptocurrency has been stable for several weeks. However, during this time, judging by the schedule, bull traders significantly depleted their stocks.
Looking at the difference of Bollinger Bands on the daily crypto chart, we can say that ETH has not yet established a sufficiently persistent bullish trend. The direction of its movement can change at any time.
That is, despite the price increase and several key ATH, the volume of transactions decreases. RSI shows that ETH is overbought which is also a bearish signal.
Apparently, support for the current increase in the value of the crypto is VanEck's application for ETH ETF, which was filed on Friday. As well as the successes of numerous NFT and DeFi projects. Let's see how things go.
The current price of Ethereum is on Binance.
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