With a current value of 55, the Ethereum Fear and Greed Index, a widely used indicator of market mood, is leaning more towards greed.
This is a discernible increase over the previous several weeks’ data, which coincided with an increase in Ethereum’s price. Recognising the index’s recent trends One instrument that sheds light on the general attitude of Ethereum investors is the Ethereum Fear and Greed Index.
Solana Soars with Double-Digit Gain, Outshining Cardano
A reading less than 50 indicates that fear is the dominant emotion in the market. In the meanwhile, a score higher than 50 indicates greed. The indicator has mostly been in the neutral range throughout the last month.
Investor Sentiment Improves: Ethereum’s Fear and Greed Index Rises,Investor Sentiment Improves: Ethereum’s Fear and Greed Index Rises
For example, on October 12, when Ethereum was trading at $1,566, the index recorded a reading of 41. By October 11, the index ranged from 42 to 45, showing just a minor but neutral fluctuation. Ethereum’s price had been bouncing between $1,566 and $1,576 at that time.
The latest change to 55 indicates that investors’ outlook is becoming more optimistic. A closer examination of Ethereum’s price changes According to CoinGecko statistics, Ethereum is currently trading at $1,628—a slight rise of 1.4%. Over the last day, the price of the cryptocurrency has fluctuated between $1,603 and $1,646.
Is Dogecoin Under Siege? Rival Meme Coins on the Rise
With a 24-hour trading volume of almost $8.7 billion, Ethereum’s market capitalization is a healthy $196.4 billion. Investors ought to proceed with care, though.
On the Ethereum 1-hour chart, there is an RSI bearish divergence, as reported by 100eyes Crypto Scanner. This might potentially portend an approaching price decline.
Investor Sentiment Improves: Ethereum’s Fear and Greed Index Rises,Investor Sentiment Improves: Ethereum’s Fear and Greed Index Rises,Investor Sentiment Improves: Ethereum’s Fear and Greed Index Rises, Ethereum coin Crypto news, Ethereum coin News