ETHEREUM PRICE ANALYSIS: ETH TOKEN HITS A LIFE-TIME HIGH OF $3200, WORTH MORE THAN DISNEY

ETH bounced from the support of $2035

  • Ethereum (ETH) token price sustains above the crucial level of $3000 first time since its inception
  • The market cap of ETH values $367.79 billion greater than Disney, which stands at $337.68 billion 
  • The market dominance of ETH in the crypto-verse has been jumped upto 16%, Whereas Bitcoin is at a low of 47.7%

The daily technical chart of ETH token price projects a bullish pattern. As per pivot points, ETH’s basic support level is at $2035. While on the other side if it climbs up, the critical target price level to watch is $3250. While diving into the intraday chart, it finishes a bullish engulfing candle addressing bulls are in charge.

While looking at the Stochastic RSI (OVERBOUGHT) – Provides us with a value of 100 on both the blue and orange line, Projecting a heavily overbought situation in the asset. Moreover, the investors may perceive a cooldown in the index, which may lead the price to correct a bit in future trading sessions. 

The social dominance of Ethereum went from 3.72% low to 13.82% high, which made a massive impact of 171.3% in a week. This also resulted in the ETH token price making an all-time high of $3200 on April 3, 2021. On the other hand, posts on social media and social engagement also increased by 33.8% and 62.6%, respectively.

IS THIS A BEGINNING IN ETHEREUM TOKEN PRICE ACTION, CAN EXPECT TO SEE $4800 IN FUTURE TRADING SESSIONS

ETH token price traded at $3155 with an increase of 8.75% over the recent 24-hour and 26.88% up in the week. Besides, ETH bounced from the support of $2035. Conversely, the market capitalization remains at $367.79 billion. Technically, traders can see a bullish trend, and the price is way overhead the EMA Ribbon. The stochastic RSI index features an ascending slant and values in an overbought zone. Additionally, the price movement can be towards the target price of $3250 in future trading sessions. 

Resistance: $3250

Support: $2035

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