Palscity
1
Dickson Kariuki
ME
EVENTS
BLOG
MARKET
GROUPS
PAGES
MORE
Share 41
Economics and Trade
ETHEREUM [ETH] SPARKS BULL RUN AS CRYPTO MARKET REVELS IN BULL’S GLORY
User Image Hennessy Ajang
11 Sep 2021 • 20 Views
Ethereum [ETH] Sparks Bull Run As Crypto Market Revels In Bull’s Glory
Ethereum [ETH] Sparks Bull Run As Crypto Market Revels In Bull’s Glory
SEPTEMBER 2, 2021 BY HENNESSY AJANG
After an extended period of bearish sights, the cryptocurrency market seems to have recovered to close the week on a high. Altcoins seem to be enjoying the climb even more with bigwigs like Ethereum taking the cake. The world’s largest altcoin rose by a whopping 13.3 percent in the last week as daily gains crossed the 6 percent mark.
At press time, Ethereum was trading for $3542 with a total market cap of $413.93 billion. The respectable daily hike allowed Ethereum’s trading volume to settle at $28.69 billion. The cryptocurrency market’s dominance clocked in at 19.5 percent after its market cap stood at almost 5x to that of Cardano. ADA made news after its rapid climb to eclipse XRP as the third-largest digital asset.
Ethereum 1 hour:
eth 1 hr
ETH’s immediate support climbed sporadically after it settled at the $3151 mark. The largest altcoin held its forte strong against the bear’s momentum with the indicators siding with the bull.
Parabolic SAR: The markers stayed below the price candles with the green candles outnumbering the reds.
Relative Strength Index: Ethereum’s RSI climbed above the overbought threshold which meant that more people were holding onto their tokens rather than sell it.
Chaikin Money Flow: According to the CMF, Ethereum was able to miss the zero line with the help of the bull. This was also a sign of the capital influx overtaking the outflow.
Ethereum 1 day:
eth 1 day
In the long term, Ethereum boomed upwards even when the rest of the market stagnated. The long-term support was lifted while the price action moved upwards.
Relative Strength Index: After staying near the oversold zone for a long time, Ethereum surged with the help of user investment.
Chaikin Money Flow: After it’s resurgence over the past week, ETH’s graph climbed even higher with a k-curve.
PSAR: The markers continued their hold under the movement as the bull took charge of the market. Analysts predict an increase in price if more people enter the ETH ecosystem soon.
##HennessyDaily #JournalistOnPalscity #palscity #HennessyWeekly
Hennessy Ajang
480 Blog posts
41 Comments
Write a comment and press enter
Emmanuel Mulwa 11 hrs
Good one
Jackline Njoka 12 hrs
Wow
1
Jackline Njoka 12 hrs
Wow
1
Jackline Njoka 12 hrs
Wow
1
Jackline Njoka 12 hrs
Wow
1
Jackline Njoka 12 hrs
Wow
1
Jackline Njoka 12 hrs
Wow
1
Jackline Njoka 12 hrs
Wow
1
Jackline Njoka 12 hrs
Wow
1
Jackline Njoka 12 hrs
Wow
1
Esther Achila
Delete Comment
Are you sure that you want to delete this comment ?
Catherine Mwangi
Delete Comment
Are you sure that you want to delete this comment ?
Hennessy Ajang
Delete Comment
Are you sure that you want to delete this comment ?