Ethereum is a cryptocurrency (ETHThe price is rising as investor confidence has risen dramatically.
ETH’s price is $3,080 as of the writing. It is currently up 0.3% from the previous 24 hours. The market capitalization of the asset is $370 billion. Ethereum is still a daily cryptocurrency. trading volume Dropping by 21% from $17.1 billion to $17.1 Billion.
Santiment data shows that 69.9% (of the social media conversations) about Ethereum are positive, while just 20.2% (of the traders and investors) predict a decline in price.
According to data from the Market Intelligence Platform, the average fee on the Ethereum network plunged by 70.6% since April 13’s local high of $6.93 — currently sitting at $2.03, marking its 11-week low.
As the market experiences mixed sentiment, the declining fees also show a significant drop in the activity of the Ethereum network.
ETH has seen its total open interests (OIs) decline for a third day in a row. Santiment reports that the total OI of the asset dropped from $5.02 billion in April to $4.83 at the time of reporting.
A lower level of volatility could be achieved by the ETH OI due to the downward trend.
Santiment reports that the ETH Relative Strength Index RSI rose over the course of the 24 hour period from 38 to 42.
This indicator indicates that the ETH is in a good state, but it’s slowly heading towards the overvalued area. For ETH’s RSI to stay in the bullish range, it would have to remain below the 50-mark.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: crypto.news