Though Ethereum price has been correcting upwards at present, the downtrend and volatility are still intact and inherent until a persistent trade takes place. After having regained the momentum, a determinant upward momentum and active supports will only help the price to soar. Bitcoin has also notably traded above $7,300, which has elevated the whole market to be a gainer today.
Ethereum Price Analysis
Analyzing the weeklong movement of ETH/USD on the exchange of Coinbase, we see that the coin has a downward stride. However, since yesterday the market is quite a gainer, wherein the price of Ethereum has soared by 10% from the lowest in the said time frame. The selling pressure is intact, and so is the inactiveness of the support levels except the short-term moving averages after having hit $147–where lies the 50-day SMA.
The currency was trading above 61.80% Fib Retracement while it was marked at $147, and currently it is slightly below it and above 78.60%.
The MACD of Ethereum is above zero, unlike the major coins, but holds a bearish outlook after having a mere slide down from $147.
The RSI of the ETH coin is at 48.89 and portrays no extremities at present.
