The ETH/USD pair has been rising in the last few days, with a peak earlier today at +20. It has broken through the 100EMA and BF channel, with the 9EMA turning up. In addition, the June low was held, and the RSI has been very bullish. However, it is still very early to say whether ETH is headed higher or lower.
Ethereum is a cryptocurrency that has been gaining traction in the crypto world. It has grown over three thousand percent over the last year alone. As a digital asset, it is considered an alternative currency to bitcoin. Its price fluctuates based on a number of factors, including supply and demand.
The Ethereum network is open-source, which allows anyone to create decentralized applications and store data safely. The platform has been nicknamed the “world computer” and is rapidly gaining popularity among cryptocurrency enthusiasts. Founder Vitalik Buterin, a Canadian-Russian programmer, has created a decentralized platform for decentralized applications (Dapps).
Ethereum was first described in a white paper by Vitalik Buterin in 2013, but it wasn’t until the summer of 2014 that the project began to raise funds. At the time, Ethereum was selling for less than $10 a coin. However, in the years that followed, Ethereum’s price increased dramatically, reaching $4,500/coin by 2021. As with any other currency, the Ethereum price has fluctuated over the years. A key factor is the gas price, which has become a significant burden in 2020 and 2021.