Ethereum prepares to battle for $3,000 as a stagnant Bitcoin watches on
ETHEREUM is trading for around $2,992 this morning, up by almost 3% over 24 hours, after briefly breaching $3k earlier today.
Analysts say that talks of a spot ETH ETF may be driving market momentum.
Bitcoin continues to hang around the $51,800-$52,000 region, with the market leader virtually unmoved overnight.
Many of the large-caps, Ethereum aside, are slowly inching upward as price movements have been generally muted overnight.
Looking at traditional finance, minutes from the FOMC’s meeting last month were released yesterday, the takeaway being a cautious sense of optimism from US policymakers, but rate trimming may come later than expected.
In the Markets
Total crypto market cap
$1.93 trillion (-2.72%)
What Bitcoin did yesterday
Daily high $51,918 | Daily low $51,164
Bitcoin market capitalisation
$1.016 trillion (+0.32%)
Bitcoin volume
$30.286 billion (+7.1%)
CoinDesk Large Cap Select Index
-1.43%
The CoinDesk Large Cap Select Index (DLCS) measures the market cap weighted performance of some of the largest cryptocurrencies.
SP500
+0.13%
Fear and Greed Index
73 (Greed)
Bitcoin’s market dominance
52.91
The Bitcoin Market Dominance indicator measures the percentage of total cryptocurrency market capitalisation represented by Bitcoin at a given time.
Relative Strength Index (RSI)
46.9
Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price, while 30 or below indicates an oversold or undervalued condition.
Post Script…
Cautionary Notes
It’s definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
