Ethereum continues on its upward journey although not without its fair share of bumps along the way. Nevertheless, the digital asset still remains one of the most promising in the crypto space and has demonstrated that with its recent recovery. But even after successfully landing above $3,000, the cryptocurrency still remains a long way from its all-time high of almost $5,000. However, the long-term indicators paint a favorable picture for Ethereum. Beating Moving Averages For the longest time following the December crash, the price of Ethereum had traded below important moving averages like the 50 and 100-day moving averages. Mostly this was a direct result of the continuous downtrend that rocked not only the digital asset but the entire crypto market. However, with the recent recoveries, Ethereum has been able to make significant strides price-wise and now sits above these important moving averages. Related Reading | Metaverse May Be Worth $13 Trillion By 2030, US Banking Giant Citi Says Ethereum had made it above the 20 and 50-day moving averages first but had found it hard to register above the 100-day counterpart. The former two had seen indicators turn bullish for the digital asset in the short-term, However, since it had continued to trade below the 100-day moving average, prospects for the long term had remained bleak. ETH trading at $3,489 | Source: ETHUSD on TradingView.com Regardless of this, ETH had maint...
