The US lawmakers’ crackdown of Crypto platforms operating in the region has created some uneasiness in the market as users continue to anticipate the next course of action. However, the overall digital asset ecosystem has gained investments from users worldwide in the past week after several weeks of large outflows. 

The SEC’s concerns about security tokens, and subsequent labeling of Ether as a commodity by CFTC has contributed to a price hike for ETH. This along with its founder Vitalik Buterin statement about Ethereum not being likely to be labeled as a security has seen ETH rise by 4%. 

The Exponential Moving Average for 10-day EMA and 200-day EMA indicate “Buy” at 27212.39 and 22566.63 respectively. The Simple Moving Average for 10-day SMA indicates “Sell” at 27642.70 and 200-day SMA indicates a “Buy” at 20284.02.

The Ichimoku Base Line, valued at 24474.50, continues to be neutral. The Hull Moving Average indicates “Buy” at 27234.13. The Volume Weighted Moving Average indicates “Buy” at 25490.58.

Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 59.93, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) indicate a Neutral outlook as well at 60.21 and 36.76, respectively. 

The MACD Level (12, 26), at 1164.23, indicates “Sell”. The Stochastic RSI Fast (3, 3, 14, 14) and the Williams Percent Range (14) continue to be “Neutral”at 3.75 and −39.55, respectively.