Ethereum (ETH) has recently shown gains amid a shift in market sentiment, potentially rallying to the $3.5K level.
Current ETH Market Situation
As of press time, Ethereum is priced at $3,136, with a daily low of $3,016 and a high of $3,142. Liquidations amounted to $36.12 million while its daily trading volume stands at $30.73 billion.
Future Developments Prediction
Ethereum's four-hour chart indicates potential downside corrections as it sits just above the critical $3K support level. Positive market sentiment might propel the price back to $3,328, aiming towards $3.5K.
Technical Indicators Analysis
Ethereum's Relative Strength Index (RSI) remains neutral at 50.17. The short-term moving average is above the long-term, suggesting a bullish trend, but the MACD indicator suggests a possibility of a continued bearish trend.
Ethereum is at a pivotal point, with its future movement dependent on market sentiment. Positive shifts could lead to new highs.
