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- The rebound of the ETH has a lot of steam available before the bears can leap back.
- Short-term volatility will not die soon, though.
Ethereum, the third largest cryptocurrency by market capitalization, has left a lot of steam in this rebound that has seen prices rise sharply from prices not seen in more than a year. Although the rebound will not put an end to the volatility we have seen recently.
The ETH / USD is down about 0.8 percent of the day to $ 108.67 and trading in a range of around two percent for the day, thanks to the particular weekend of trading in lower volumes. In the 720-minute chart of this crypto, the formation of a channel and the rebound from the lower end of it are a first sign of rebound and rally. Although the prices are at the top of the Bollinger bands, this does not mean they can not gather more, up to the top of the channel, currently around $ 190.
Coincidentally, the 21-week SMA of ETH is also above $ 200 per hour, which is where the long-term trend changes from the bottom to the top – a great test for bulls and bears. Until then, the short and medium-term trend remains high.
ETH / USD 720-minute chart:
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