The Ethereum price has rebounded this week while investors bought the decline, and the Fear and Greed index left the fear area.
Ethereum (ETH) reached $ 1,800, up 30% compared to its lowest level of this year. The rebound, which coincided that of other cryptocurrencies, pushed its market capitalization to nearly $ 220 billion.
There are signs that cryptographic investors adopt the fear of missing or Fomo. The Crypto Fear and Greed index jumped from the extreme Fear Zone 18 to the neutral point of $ 53 today. If the trend gains steam, it will soon enter the greed area.
In addition, Wall Street investors are interested in Ethereum because it has shaken up a disturbing trend. All ETH Spot ETH had net entries of more than $ 157 million, the best performance since February. They had net outings in the past few consecutive weeks, the longest sequence of defeats since their approval.
Ethereum had other positive measures this week. For example, the protocols DEX in the network have reached more than $ 11.5 billion in volume, bringing the volume from 30 days to $ 57 billion. The 24 -hour volume reached $ 1.7 billion, with a Uniswap, Curve Finance, Fluid and Maverick protocol with the largest market share.
Ethereum Price could continue well in the coming days because investors target the psychological point of $ 2,000. The risk for these prospects is that the rate of financing of perpetual term contracts has plunged, a sign that the open sellers pay costs to buyers to maintain their trades.
Technical analysis of the Ethereum price
The daily graph shows that the price of the ETH has rebounded in recent days. He jumped and crossed the upper side of the pattern of the graphic in the corner of the falls, a popular bullish inversion panel.
The part was slightly exceeded the weighted mobile average of 50 days and formed a small model of Haussier flag, a popular bullish continuation panel on the market.
Therefore, the medal will probably continue to go up while the bulls target the psychological point of $ 2,000. A full upper breach will be confirmed if the part jumps above the key resistance at $ 2,120, the neckline of the triple background pattern which was formed on the weekly graphic.
