Over the past 24 hours, the major altcoin has gained about 0.4% to $1338. The asset is in a local uptrend, but still below its annual extreme of $1453.
Cryptopolitan experts have indicated that under current conditions, Ether should consolidate above US$1300. This would increase the likelihood of bullish momentum approaching the psychological zone of US$1400. Experts stressed the need to pay attention to the RSI indicator in the current situation, as it could indicate a correction in the bullish trend.
At daily intervals, Ethereum is above its simple moving average of 200. This suggests that the major altcoin holds bullish potential and will continue to strengthen its position in the short term. Experts summarize that Ethereum has paid dividends amid strong buyer activity in the market environment.
Experts suggest that Ethereum will attempt to rise toward $1,400 in the coming weeks.
Rather, crypto.ru Info: Last year was a difficult year for the cryptocurrency industry. However, many analysts believe the situation could finally improve over the next 12 months. Tom Lee of Fundstrat Global Advisors said the main reason for the bearish trend last year was the Federal Reserve’s policy of tightening monetary policy.
According to the expert, U.S. inflation has been declining in recent months. If the situation continues to develop in the same direction, the Fed could significantly lower the refinancing rate. All results could not be downloaded.