Ethereum climbs for 2 days, looks to continue trend

• The price of ETH, the largest altcoin by market cap, has increased in the last 24 hours.
• This is in addition to its stellar performance on the weekly chart.
• The overall market cap of ETH has risen to $151.14 billion as a result of the favourable price movement.

Ethereum (ETH), the largest altcoin by market cap has climb in the last 2 days.

At the time of writing, the price of ETH has risen slightly more than 1% in the previous 24 hours to $1,242.47. This is in addition to its stellar performance on the weekly chart, where its price has increased by nearly 26.29 percent in the last seven days.ETH has also increased in value relative to BTC by 1.19 percent. At the moment, 1 ETH token is worth around 0.05807 BTC.

Read More: Bitcoin, Ethereum, BNB, XRP, Solana, Cardano, and Dogecoin?

Due to recent price gains, ETH’s market cap has grown to $151.14 billion. ETH is 11th on CoinMarketCap’s trending list.

Glancing at the daily chart for ETH/USDT, the price of ETH has dropped back to where it was a few weeks ago following a 2-candle rise, with today’s candle looking to close positively as well. The price of ETH is also above the 9 EMA.

Read More: Ethereum Merge Delayed; Price Falls Below $1550 in 24 Hours

With many positive signals on the 4-hour chart, the bullish increase seen in ETH’s price may continue. The 9 EMA is above 20 EMA, which is the first bullish indicator. The price of ETH is now above both of the previously indicated EMA lines. Finally, the RSI is attempting to cross above the RSI SMA line, which is a positive indicator.

Given that the RSI for ETH is currently around 39.77 on the daily chart, there is still plenty of purchasing room before ETH enters the overbought territory. If Ethereum breaks through the present resistance level on the 4-hour chart, the next objective is $1,600.