ETH Rises High in The Last 24 Hours- A Sign of Revival?

Ethereum’s positive move has surprised the market. Meanwhile, traders are quite happy, too. A few hours ago, Ethereum made a slight bullish movement and took the market by storm. The coin’s rise was so unpredictable that traders were happy to see any rise after all.  

In the last 24 hours, Ethereum was in a continuous rising steak. As a result, the coin is celebrating its 12-day high streak. Santimant, reputed for micro-screening the crypto rends, said on Tuesday that this could be the major set-up for Ethereum’s bullish revival. But the overall stable coin market simply seems to be out of wits.  

The Rise is temporary

Ethereum experienced a price hike, which was a fleeting move. Going forward, the coin stumbled again, after recording a 12-day high.  

From $2832, the coin fell back to $2,661 again. Holding investors is the only good signal amidst the bearish market. As the market moves towards decentralization gradually, investors’ trust could be coming back.  

If not anything, it can stall the high chances of a massive sell-off wave in the market. However, Santiment profs say that this should be a sustainable move and not a paltry swimming trading output.  

The experts also commented that Ethereum is a loner among coins that is showing gradual traction. The reviving user interest is a great signal that could finally help ETH move towards a resilient future.  

Some Grey Aea Still Remains  

ETH may have moved up a bit. But the whole crypto community cannot be hopeful at the moment. Take the example of YouTuber creator and trader Lark Davis. He’s got talking, about the real market trend, which is vicious.  

Once ETH starts crawling up a bit, the market hits back 5x promptly.  

Technical Analysis  

The slight upward move has got the ETH/BTC ratio moving too. It kindles some hope as the ratio was trailing ow for a few years at a stretch. ETH could barely compete with BTC over price. As a result, the ETH/BTC ratio has never been up.  

On 17th Feb, the ratio improved by 7%. But it is no final indicator. Traders need to patiently watch whether user interest in ETH grows as a result of this move or not!