Monday, January 30, 2023
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    Ether crosses the $3,100 resistance level


    The cryptocurrency market continues its fantastic begin to the week, with the main cryptocurrencies at the moment within the inexperienced.

    The broader crypto market continues its wonderful begin to the week, including practically 2% to its whole market cap. At press time, the whole cryptocurrency market cap stands above $1.9 trillion.

    It might quickly cross the $2 trillion mark if the present market momentum is maintained. Bitcoin stays the main cryptocurrency by market cap and at the moment trades above $41k per coin.

    Ether, the second-largest cryptocurrency by market cap, has additionally carried out nicely within the final 24 hours. ETH is at the moment buying and selling above $3,100 per coin, up by greater than 2% thus far at this time.

    Within the final seven days, ETH has added practically 3% to its worth, making it one of many poor performers amongst the highest 10 cryptocurrencies by market cap.

    Nonetheless, with the bullish development at the moment in play, Ether might document additional positive aspects over the approaching hours and days. The cryptocurrency might goal the $3,500 resistance degree within the quick time period.

    Key ranges to look at

    The ETH/USD 4-hour chart is at the moment impartial as Ether’s ongoing optimistic efficiency cancels the losses recorded just a few days in the past. The technical indicators present that Ether’s value motion is at the moment bettering.

    The MACD line is across the impartial zone, indicating that Ether is not within the bearish area. The 14-day RSI of 58 exhibits that ETH might enter the overbought territory if the prevailing market momentum persists.

    At press time, ETH is buying and selling at $3,100 per coin. If the bulls stay in management, it might surpass the primary main resistance degree at $3,227 earlier than the tip of the day. Nonetheless, the second main resistance degree at $3,350 ought to cap additional upward motion within the quick time period. 

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