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Ethereum {ETH} jumps back beyond $170 as buyers take aim; RealT COO exemplifies ETH

Bitcoin

Ethereum is ranked at #2 to the north of XRP as well as Tether in the market. The price increased at a rate of 5.81% in the course of the past 24-hours. This brought ETH all the way up to $175.10 where it currently rests. The trading volume recorded stands at roughly $7.693 billion, while the supply has 107,923,009 ETH coins in circulation. As of this moment, the total market cap of Ethereum is $18,897 billion.

According to the candlestick chart connected to the ETH/USD pair on tradingview [based on data obtained from Bitstamp], buyers are back in action and aiming to push ETH ahead of $180. The daily RSI [for 14 periods] has managed to recover to 41.88 which points to a recovery brought about by bullish divergence. The MACD line has stayed south of the signal line since 24th September; the gap between the two has reduced slightly.

Support can be found close to the $153 mark, and barriers may hamper the growth of Ethereum beyond the $224 mark. In the aftermath of 25th September, the peaks tied to the Awesome Oscillator have been constructed beneath the zero line.

A day ago, as reported by dailyhodl, David Hoffman who is the Chief of Operations at RealT commended the Ether network. His conclusion states that for an “Internet-based financial system” to be successful, it is necessary for the chain to be “completely open and trustless”.

Let’s hope that Ethereum doesn’t erase the gains as this week draws to a close.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.