3 reasons why Ethereum can hit $3K in the short term despite overvaluation risks

3 reasons why Ethereum can hit $3K in the short term despite overvaluation risks

Ether risks bearish exposure as ETH’s price rises against falling volumes, but three crucial on-chain indicators suggest a dissenting scenario. Ethereum’s native asset, Ether (ETH), dropped after reclaiming its two-month high in the previous session, suggesting that its recent bullish rally was nearing exhaustion. In detail, the ETH/USD pair topped out at $2,699 on Sunday for the first time since June 7. The pair’s peak level also pushed its relative strength index (RSI), a momentum-gauging indicator, above 70 — a mark that analysts consider overbought. Seemingly, traders with short-term....


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