The price of Ethereum (ETH) has recently broken the 52-week moving average, suggesting a parallel upward trajectory in the market. This is a significant indicator for potential gains.
The relative strength index (RSI) for ETH/USD indicates that the asset is currently in oversold conditions, which could further drive positive sentiment as traders anticipate bullish trends.
Additionally, positive funding rates are contributing to the optimistic outlook for Ethereum, targeting the $2900 mark.
