The Ethereum price in USD is currently trading near $1236. It is currently at a historic RSI level of seven, which it last reached in March 2019. While this may indicate range-bound price action, this level could also signal a reversal. Furthermore, the 200-weekly moving average is broken at current levels. If this level remains broken, bears could target the $800 weekly order block.
Ethereum is a digital currency that was developed two years ago. Using the same technology as Bitcoin, Ethereum allows users to create and maintain contracts, establish establishments, and raise money. It was launched in 2015 in an Initial Coin Offering, where 60 million ETHs were distributed among investors and 12 million remained with the developers.
The cryptocurrency market has experienced massive growth in recent years. The popularity of digital coins has led to businesses adopting them as an alternative payment method. Ethereum, the second most popular cryptocurrency, continues to evolve and has many uses in various sectors. By monitoring the Ethereum price USD, investors can take advantage of new opportunities and make a profit.
The rise of Ethereum is expected to continue in the near future, fueled by the increased entry of institutional investors. In addition, the European Investment Bank plans to launch a two-year digital bond on the Ethereum blockchain. This announcement pushed the Ethereum price to a record high. Visa has also announced its plans to accept payments with USD Coin on the Ethereum blockchain.