ETH could cross the $1,200 resistance level soon

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The cryptocurrency market has had a net positive week so far and could end the week on a positive note.

The cryptocurrency market has been performing well since the start of the week. The market had added more than 5% to its value since the start of the week, with the total market cap now above $920 billion. If the positive momentum is maintained, the total market cap could cross $950 billion before the end of the week.

Bitcoin remains the industry’s pace-setter and is up by nearly 2% today. It has maintained its price above $20,000 but continues to struggle to surge past the $21k resistance level.

Ether, the world’s second-largest cryptocurrency by market cap, has had a net positive week so far. In the last seven days, ETH has added more than 15% to its value, making it one of the top performers amongst the top 10 cryptocurrencies by market cap.

In the last 24 hours, ETH is up by more than 3% and is trading above $1,100 per coin. If it maintains its positive performance, ETH could cross the $1,200 resistance level over the next few hours.

Key levels to watch

The ETH/USD 4-hour chart is positive as Ether has been performing well since the start of the week. 

The MACD line crossed into the positive zone a few days ago and has maintained its positive above that level. The 14-day relative strength index of 62 shows that ETH could enter the overbought region if the market conditions continue to improve. 

At press time, ETH is trading at $1,186 per coin and could rally past the $1,200 resistance level before the end of the day. 

However, Ether would need the support of the broader market to move past the $1,300 resistance level for the first time this month.

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near
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aptos
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ondo-finance
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bitcoin
Bitcoin (BTC) $ 113,362.37
ethereum
Ethereum (ETH) $ 4,582.26
xrp
XRP (XRP) $ 3.00
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 871.62
solana
Solana (SOL) $ 212.00
usd-coin
USDC (USDC) $ 1.00
staked-ether
Lido Staked Ether (STETH) $ 4,572.09
dogecoin
Dogecoin (DOGE) $ 0.223974
tron
TRON (TRX) $ 0.348420
cardano
Cardano (ADA) $ 0.871572
wrapped-steth
Wrapped stETH (WSTETH) $ 5,544.70
chainlink
Chainlink (LINK) $ 24.20
wrapped-beacon-eth
Wrapped Beacon ETH (WBETH) $ 4,934.96
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 113,246.34
hyperliquid
Hyperliquid (HYPE) $ 48.76
wrapped-eeth
Wrapped eETH (WEETH) $ 4,909.65
sui
Sui (SUI) $ 3.50
ethena-usde
Ethena USDe (USDE) $ 1.00
stellar
Stellar (XLM) $ 0.383067
crypto-com-chain
Cronos (CRO) $ 0.338790
bitcoin-cash
Bitcoin Cash (BCH) $ 559.60
avalanche-2
Avalanche (AVAX) $ 24.73
hedera-hashgraph
Hedera (HBAR) $ 0.240532
weth
WETH (WETH) $ 4,582.73
leo-token
LEO Token (LEO) $ 9.52
litecoin
Litecoin (LTC) $ 113.74
the-open-network
Toncoin (TON) $ 3.17
usds
USDS (USDS) $ 1.00
shiba-inu
Shiba Inu (SHIB) $ 0.000013
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
whitebit
WhiteBIT Coin (WBT) $ 43.90
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 113,363.37
uniswap
Uniswap (UNI) $ 10.04
polkadot
Polkadot (DOT) $ 3.92
ethena-staked-usde
Ethena Staked USDe (SUSDE) $ 1.19
bitget-token
Bitget Token (BGB) $ 4.63
monero
Monero (XMR) $ 272.75
aave
Aave (AAVE) $ 325.77
dai
Dai (DAI) $ 0.999979
pepe
Pepe (PEPE) $ 0.000010
ethena
Ethena (ENA) $ 0.643222
mantle
Mantle (MNT) $ 1.25
okb
OKB (OKB) $ 169.26
ethereum-classic
Ethereum Classic (ETC) $ 21.79
bittensor
Bittensor (TAO) $ 335.40
jito-staked-sol
Jito Staked SOL (JITOSOL) $ 257.92
near
NEAR Protocol (NEAR) $ 2.52
aptos
Aptos (APT) $ 4.41
ondo-finance
Ondo (ONDO) $ 0.939335
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