Ethereum Bulls Are Back - Price Already Over $3740 USD.

Ethereum Bulls Are Back - Price Already Over $3740 USD.

2021-10-14 | Mike Hallen

Ethereum Bulls Are Back - Price Already Over $3740 USD.

Ethereum (ETH) is trading higher today on Thursday, despite a small drop in the cryptocurrency market. Other popular cryptocurrencies such as Dogecoin, Ethereum Classic, and Litecoin have also started to gain momentum. At the time of reporting, Ethereum is presently trading at $3,731.14 USD, down 8.12%. Ethereum has been in a tight battle with the opposition, but it had a good day on Thursday. Cryptocurrency trades in a rising triangle pattern, as defined by tech traders. On the Ethereum chart, the $4,000 USD level has become a point of contention. This has been the area where cryptocurrency has struggled to collapse in the past. The high-speed line was in another place where crypto has already found acceptance and may continue to do so in the future. Ethereum Bulls Are Back - Price Already Over $3740 USD.

Ethereum Price Chart - Source: CoinMarketCap

Crystals traded above both the 50-day (green) and 200-day (blue) moving averages, indicating that the cryptocurrency is now bullish. Each of these moving averages can provide future support. For the past two weeks, the RSI (Relative Strength Index) has been on the sidelines, and it is now at 54. This indicates that the stock is under more pressure to purchase than to sell. ETH is expected to continue to rise and eventually break through the $4,000 obstacle, according to smart traders. The bulls will next look for a period of consolidation over $4,000 in order to find another positive advance. Bearish traders expect Ethereum to retrace its steps down the top line, break below it, and then catch under the trend line. This may result in trend shifts and long-term startup opportunities.

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