Today's average crypto price is moving in the green zone, Bitcoin is up 3.72%, Ethereum is up 5.37%, BNB is up 2.30%, Solana is up 2.89%, XRP is up 1.46%
Coinmarketcap's Fear and Greed Index shows a value of 68, which means that investors' enthusiasm for risky assets in cryptocurrencies has increased above the fear level. If the value reaches 100, it means the market is extremely greedy and may be corrected.
ETHUSD technical analysis
ETHUSD price on the daily timeframe formed a bull candlestick with a long body indicating a strong price rally after an upside breakout.
The Bollinger band expands, indicating high market volatility, the price of Ethereum has gained the highest compared to other cryptocurrencies, including Bitcoin. This may be due to Ethereum's fundamental news regarding the Ethereum ETF which is predicted to be approved in May.
MA 50 is far below the price, indicating strong bullish momentum. However, RSI gave a warning at level 72, which means the price has entered the overbought zone.
In the H1 timeframe, the price rallied strongly after breaking the upper band line, here the Bollinger band expanded, indicating rising volatility.
The MA 50 line is far below the price near the middle band forming an upward channel indicating strong bullish momentum. However, the RSI, which is an oscillator indicator, shows level 78, which means the price has entered the overbought zone with the possibility of a price correction.