Ethereum market update: ETH/USD resumes the uptrend after the sudden fall


  • ETH/USD initially corrected towards $300 but formed a high at $272.
  • There has been a rebound with Ethereum beating the highs at $272.

Ethereum has been a market leader to the extent of outperforming Bitcoin bull rally. ETH/USD initially corrected towards $300 but formed a high at $272. Ethereum as the market leader is leading the altcoin recovery and experts predict the diminishing of Bitcoin dominance.

The momentum, however, stalled at $272 giving way for a bearish correction. Where Ethereum bulls mission to revenge succeeded in sending Ethereum below the support at $250. The losses extended towards $240 and formed a low at $241.811. There has been a rebound with Ethereum beating the highs at $272.

The bulls appear to be back and sending Ethereum on an upward roll that could soon test $280 before sliding further to $300. Meanwhile, all the pointers are bullish with the RIS almost in the overbought while the MACD making a retreat into the positive region.

ETH/USD 1-hour chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin market update: BTC/USD impressively rebounds to touch $10,000; bulls getting exhausted

Bitcoin rollercoaster rides are at their full throttle and paint a picture of extreme volatility levels. As FXStreet reported, the slump from highs slightly above $11,000 explored levels marginally above $9,000 on Wednesday before recovery ensued.

More Bitcoin News

Litecoin price analysis: LTC/USD recovery loses steam under $100

Litecoin gained incredibly yesterday following the drop to recent support at $77.50. After the 15% correction in a single day, LTC/USD hit a high around $94.86 before the trend gave way for a retracement touching $87.18 during the Asian trading hours on Thursday.

More Litecoin News

Ethereum price analysis: ETH/USD maintains a ‘buy’ rating despite recovery from $190

Ethereum has in the past few days come under heavy selling pressure. The crypto plunged from levels above $300 and explored how deep the rabbit hole goes under $200. Support established at $190 allowed the bulls to take over control and push for gains above $200.

More Ethereum News

Ripple market update: XRP/USD rebound stalls at $0.3200

Ripple bulls are not contented with the recovery from the recent slump that touched $0.28. While XRP/USD stepped above the key $0.30, recovery has stalled on touching $0.32. Besides, the price is dancing at $0.31 following a subtle 0.95% correction on the day.

More Ripple News

Bitcoin Weekly Forecast: BTC bulls get ready for a major assault

The cryptocurrency market has been pretty volatile this week. Bitcoin stayed in the green zone despite wild price gyrations, while major altcoins are nursing double-digit losses on a week-on-week basis.

Read the weekly forecast

BTC

ETH

XRP