With the arrival of the weekend, the cryptocurrency market is not going to 'relax'. All of the top 10 coins are under pressure by the bulls. The biggest gainer is Bitcoin SV (BSV), whose rate has rocketed up by 17.78% over the last 24 hours.
The rate for the chief altcoin has increased since last week. The price of Ethereum (ETH) has also risen by $45 in total.
Below is the relevant data for Ethereum at press time.
Market Cap: $24,735,073,040
Volume (24H): $16,718,266,024
Change (24H): 2.99%
The rate for Ethereum (ETH) has risen by 2.61% since yesterday. As the fuel of altcoin market, Ethereum continues going up and neglecting all potential rollbacks along the way.
Even though Ethereum (ETH) is located in the overbought area according to the Relative Strength Index (RSI), it still has growth potential before an upcoming correction. In this case, the coin has the ability to reach a local height of $230, which might be achieved in the next few days.
Looking at the bigger time frame, Ethereum (ETH) has come back to its mid-September value. However, in order to move higher, the coin needs a correction as the asset is overbought.
Moreover, the leading altcoin is forming a Triangle pattern, with the $200 level serving as support. To sum it up, if bears start selling the coin, it would be in the area during the first days of March 2020.
At press time, Ethereum was trading at $226.21.