Ethereum

Convergence

Thing

Coin

<ul class="news-points">
 <li>Ether price up, breakout possible</li>
 <li>Technical indicators signal potential rise</li>
 <li>&nbsp;SEC rulings on ETFs create market uncertainty</li>
</ul>
Ethereum’s price <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noopener noreferrer nofollow">surged by 5.59%</a> last week, reaching $3,089.25. However, it has experienced a modest decline of 0.56% in the past 24 hours. With a trading volume of $10.95 billion and a market capitalization of $371.1 billion, <a href="https://coinedition.com/ethereum-co-founder-comends-communitys-free-speech-culture/" rel="noopener noreferrer nofollow">Ethereum’s market activity</a> is attracting considerable attention.
Technical analysis reveals that the Relative Strength Index (RSI) for Ethereum on the weekly chart sits at 55.47. This value indicates a market that is neither oversold nor overbought. Traders are therefore anticipating potential price movements in either direction. This balanced RSI suggests that the market could soon experience increased volatility.
Furthermore, the Moving Average Convergence Divergence (MACD) indicator on the weekly chart stands at 233.9, suggesting a possible bullish trend reversal. Traders often seek confirmation from other indicators before making investment decisions. Consequently, this MACD signal adds to the anticipation of a potential upward price movement.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/51Z2MdGnDZ6pl8AwpwtO877DACxhil-fqqgw9hoIoii-GFUARQlN2v2pOvf6KQNdyZswu0kOpDKNuqbx4PsyNUPrX_mOSVXBj0bAk_1F9yjshojKf50ol5tNjdfuKEZ2lSK6aYs-tWVV50r6rGU_lAM" alt="">
</figure>
Source: <a href="https://www.tradingview.com/x/IeV104SU/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
The Know Sure Thing (KST) indicator…
The post <a href="https://coinedition.com/ether-price-pumps-but-sec-decisions-could-spoil-the-party/" rel="noopener noreferrer nofollow">Ether Price Pumps, But SEC Decisions Could Spoil the Party</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Ether Price Pumps, But SEC Decisions Could Spoil the Party

Coin Edition

Other articles published on May 20, 2024

MAOCAT Presale Is Off to a Successful Start, Raising $300K Already

Next Cryptocurrency To Explode Monday, May 20 — ArcBlock, Lido DAO, Gnosis, Dogwifhat

Linus Torvalds Criticizes Cryptocurrencies

SUI Price Soars 10% As Sui Network Hits Key Milestone

GameStop Price Prediction: Will GME Reach Record Highs Soon?

PlanB Highlights Bitcoin’s 2024 Bull Market

Join our free newsletter for daily crypto updates!