Hello, welcome to this ETHEREUM /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Ethereum (ETH) climbed back above $1,500 on Tuesday, as it also reentered a recent support point.
Following a low of $1,470.02 to start the week, ETH/USD rallied to a peak of $1,514.08 earlier in today’s session.
As a result of this move, the world’s second-largest cryptocurrency is once again trading above its long-term floor at $1,505.
Despite this, overall market momentum remains bearish, with the 10-day (red) moving average (MA) extending its death cross with its 25-day (blue) counterpart.
What has somewhat helped to ease the current market sentiment is the floor of 44.00 on the RSI indicator.
Should the floor break, there is a strong possibility that ethereum will be heading for the $1,450 mark.
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