Seems like ETH is joining the ongoing bull cycle. The first step was reclaiming the level above $2,000, but bulls don’t lose focus. The support at $2,200 confirmed the stability of the market, thus letting buyers look towards higher price levels, so the new ATH of $2,360 shouldn’t come as a surprise.
The MACD shows that, currently, the least resistant way for ETH is upward, an indicator that isn’t exclusively bullish nor bearish. But it does indicate the positions where traders can buy the tip or sell the top. Furthermore, the MACD foresees the asset’s general trend and measures the momentum, according to CoinGape.com.
A MACD line that crosses above the signal line indicates that traders ought to acquire more ETH or hold to it, waiting for the growth. But if the crossing happens below the signal line, then this shows that the trend is flipping bearish.
The MACD also highlights that ETH sits comfortably in the hands of bulls. As the divergence from the signal line will expand, the bullish momentum also increases. If ETH crosses the $2,500 level, it would be a new milestone and could trigger massive buying towards the $3,000 level.