ETH, the second-biggest token, has faced some setbacks in the last few days. However, new data released by Cryptorover suggests that the token is all set to make another upward movement. Some say this movement might soon die down, while others believe the pricing movement might start a bullish run for ETH.
The latest data suggests that the token is showing increased trading volume and positive price movement, which could perfectly prepare it for a bull run. While short-term investors can take advantage of the run, things might be different for long-term investors.
Current ETH Growth
At press time, ETH/USD is trading for $3,150 on Binance, a 4.2% increase in its valuation in 24 hours. This is huge for ETH, as things were not looking great for the token for a moment.
A steady rise in trading volume further complements this price movement. In other words, people are showing heightened interest in the token on major exchanges like Kraken, Coinbase, and Binance. The token has grown by at least 4% on all platforms.
The token’s trading implications are clear: ETH is making a fast recovery. For traders, this is a massive opportunity. Newer and seasoned traders can finally dip their toes in the ETH river. In other words, the current state is conducive for newer investors to break in.
Technical indicators of the token suggest that ETH is making a recovery. However, it is niot strong enough to say whether ETH will be able to break its previous ATH and create a new record. Therefore, now is the right time for investors to enter the arena slowly.
