- Ethereum (ETH) has rallied back over the $600 mark, to set a yearly high, as Bitcoin nears its all-time-high.
- Trading volume has significantly increased during this trading period, as has momentum.
- All eyes are on Bitcoin. If Bitcoin surpassed its all-time-high, all bets are off on Ethereums next move.
ETH/USDT opened todays trading period at 552.38 USD. The high for this trading period was 612.84 USD, with the low for this period being 552.00 USD. At the time of writing, ETH/USDT is 604.00 USDT, 3.71% above the trading periods high-low average of 582.42 USD.
Total trading volume for ETH/USDT at the time of writing stands at 1.32 million ETH, compared to 855,000 ETH at the end of the previous trading period. This represents an increase in trading volume of over 50%.
The Historical Volatility Index (HVI) reads 105.78 at the time of writing, compared to 111.08 at the close of the previous trading period.
ETH/USDT stayed relatively stable after having opened todays trading period at 552.38 USD, only registering a low of 552.00 USD, just 38 cents below its opening price. After several hours of minimal movement, ETH/USDT began its first attempt to hit the 600.00 USD mark, rising to 591.95 USD.
After cooling off at round that level, it began its second rally to the trading periods high of 612.84 USD, a gain of over 12% since open. At the time of writing, ETH/USDT is 604.00 USDT.
ETH/USDT entered the trading period with a trading volume of 12,959 ETH, with a mean volume of 18,908 ETH carried over from the previous trading period. For the next several hours, trading volume remained supressed, dropping to a low of 7,678 ETH, bringing the mean trading volume down to 16,337 ETH.
In correspondence with the first attempt to touch the 600.00 USD mark, ETH/USDTs trading volume spiked to 44,064 ETH. This was followed by a second spike to 60,386 ETH as ETH/USDT reached the trading periods high.
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