Ethereum [ETH] finally sustained its bullish track as its recent rallies altered the long-term trend to exhibit a buying edge. With the 200 EMA assuming a rebound zone for the bearish pulls, the king alt now saw a volatile break above the point of Control .
Should this resistance stand sturdy, it could reject higher prices for a while before a likely bull revival. At press time, ETH traded at $1,886.5, up by 11.22% in the last 24 hours.ETH’s growth in the last month has expedited the altcoin’s efforts to change the broader narrative in favor of bulls. As a result, the EMA ribbons have been northbound while supporting ETH’s 87% revival from its mid-July lows.
But with the bears posing hurdles near the $1900 region, ETH saw a slight rejection of higher prices. Meanwhile, ETH saw a nearly 60% incline in trading volumes in the last 24 hours. This increase has further reaffirmed the near-term bullish strength. The Relative Strength Index moved along the threshold of the overbought position at press time. Any reversal from this level can hint at near-term ease in buying power.
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