Ethereum hits an 8-year low

As of this writing, Ethereum was trading at around $3,540, with an increase of approximately 1.7%.

An analysis of its daily time frame shows an improvement from the previous trading session.

In the last session, its price dropped to $3,400 after declining by less than 1%. This decline followed another decline in the session before that.

Additionally, Ethereum’s Relative Strength Index (RSI) analysis showed a positive move. The chart indicated that its RSI was now close to the neutral line. This suggests that the bear trend is weakening as of this writing.