Summary
- Ethereum (ETH) is showing a recovery trend with its Relative Strength Index (RSI) rising to 56.2.
- It was explained that Ethereum's buying pressure has strengthened, moving out of an overbought state into a slightly bullish territory.
- ETH's price is reported to be trading at $3,421.42 on Binance, up 0.62% from the previous day.
According to the cryptocurrency media BeInCrypto on the 31st (local time), Ethereum (ETH) is showing signs of recovery towards the end of the year and the beginning of the new year.
The media stated, "While Solana (SOL) and Bitcoin (BTC) have reached new all-time highs in 2024, Ethereum has not yet reached this milestone," adding, "Currently, Ethereum's Relative Strength Index (RSI) is at 56.2, showing a steady recovery since it fell below the 20 mark on December 20th (local time)."
It further explained, "This indicates that Ethereum's buying pressure has recovered, moving out of an overbought state into a slightly bullish territory."
Meanwhile, ETH is trading at $3,421.42, up 0.62% from the previous day, as of 03:01 on the 1st, based on the Binance Tether (USDT) market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
