Crypto Blog
Ethereum’s price has spiked significantly following its ETF approval. However, the market is yet to break its recent high.
Yet, the 4-hour RSI has recently broken above the 50% level, indicating that the momentum is shifting bullish. Therefore, a breakout above the $4,000 level seems likely in the short term. It is evident that the exchange reserve has recently plummeted below its 30-day moving average. This aggressive drop points to a potential accumulation happening during the current consolidation as the market gets ready to rally higher.
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