The cryptocurrency market exhibits bullish sentiment, supported by Bitcoin reaching a new high. However, Ethereum, the second-largest asset, struggles to break the $3.5K mark.
Current Movements in Ethereum
Ethereum trades within the $3.2K range, with a slight 1.47% gain over the past 24 hours. Despite the upward movement, the asset faces resistance at $3,260 and ranges between $3,121 and $3,337. A liquidation of $88.74 million worth of assets was recorded.
Market Data and Activity Analysis
Amidst whale activity, with 18,049 ETH accumulated valued at $59.3 million, Ethereum is drawing significant interest. Meanwhile, the daily trading volume of ETH has fallen by 11.95%.
Technical Analysis and Possible Developments
Technical analysis indicates minor negative trends, with the MACD indicator signaling a potential downturn. Support is at $3,103, with primary resistance at $3,398.
While the cryptocurrency market maintains a positive outlook, Ethereum encounters challenges in breaking the $3.5K mark. Technical indicators suggest potential slight corrections in the near term.
