ETH Price Reclaims $2.6k Level!

Despite recording a drop of ~3% over the past week, the Ethereum price has jumped 7.96% in the past 24 hours with a trading volume of $36.13 billion. With this, it has reclaimed the $2.6k mark, indicating increased bullish sentiment in the market.

The Relative Strength Index (RSI) has recorded a sharp rise in the 1D time frame. With a bullish crossover in its average trendline, this altcoin may continue gaining value this week.

Furthermore, the MACD trend shows a constant decline in its red histogram with its averages hinting at a potential positive convergence in the Ethereum price chart. This highlights increased buying-over-selling pressure for it in the crypto space.

Is Ethereum Expected To Go Up Or Down?

If the bullish sentiment sustains, this could push the ETH coin price toward its important resistance level of $2,870. Maintaining the price above that level could set the stage for it to retest its upper resistance level of $3,272 in the coming time.

However, in case of a bearish reversal, the altcoin leader could drop toward its support of $2.5k. Furthermore, if the bears dominate the crypto space, the Ethereum coin could plunge toward its low of $2,200. $ETH