Time up: Ethereum gradually enters into the growth stage

Holders of Ethereum can take a breath — crypto-currency holds above $ 220 and is steadily moving up. On 4-hour chart has formed a bullish trend with next support in the area of 224 dollars. While the Ethereum could not break through resistance around $ 252 and slightly rolled down. The chart analysis of the coins held in the Platform.

The 4-hour chart

Over the past week, the asset slowly recovering after falling to a local minimum at the level of $ 190. The trading volume increased Ethereum and cryptocurrency broke several resistances in the area of 200, 210 and $ 240. At this point in time the Ethereum closed several candles above the level of $ 220 and 100 SMA.

If Ethereum will be able to quickly break through resistance at 255$, we can talk about the confirmation of the upward movement of the asset. The bearish scenario will remain valid if the asset will fall below the trend line, which is now in the area of $ 226. In this case, the closest support is waiting for us for 200 dollars.

To confirm the global uptrend in the daily chart the scale Ethereum need to climb above 255, 270 and 300 dollars. MACD on 4-hour chart a little bit to the bearish zone, the RSI is holding below 50.

But from the point of view of fundamental factors are not so rosy — even the acne Buterin does not excludethat the cost of Ethereum may fall to zero. Long fall won’t stop including for technical development of the project. On the contrary, the rise in price of the coin does not bear any practical benefit to the future of the network ETH.

The altcoins market gradually begins to grow, it was seen in the fall in the share of Bitcoin in the total capitalization of the stock market — in just ten days it fell nearly 7 percent. It seems that soon we are waiting for season altcoins, the first coins already bring very good profits to their investors.


Leave a Reply

Your email address will not be published. Required fields are marked *