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The Layer-1 blockchain built on the TON framework EVER shows bullish movement today. Everscale (EVER) is soaring at $0.062 at 5:54 am EST.
Its price reflects a 9.58% increase in the last 24 hours, with a trading volume up by 447%. The spike in its trading volume indicates increased trading activity for the token.
EVER Retraces Briefly from Overbought Region
EVER is trading above its 50-day and 200-day Simple Moving Averages (SMA), expressing a bullish sentiment in the market today.
This position implies that most traders are in long positions as the Relative Strength Index (RSI) indicator hit the overbought region on July 31. However, the RSI has retraced today to 52.72 as the bears battle to limit EVER’s price.
Despite the slight pullback indicated by the red candle today, the Moving Average Convergence/Divergence (MACD) is still above its signal line, confirming the return of the bulls to force another rally.
Although some traders are in short positions, the buying pressure is rising once more as more investors enter buy trades. EVER will likely continue on its rally in the coming days if the bulls sustain their charge.
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