Ethereum shows early signs of a bull run that could lead to price discovery way beyond the previous All Time High.
This weekly chart with 200, 100 and 50 point moving averages reveals the the mixed pressures on current prices.
MACD turned green in the past few weeks — price has just emerged above the top Bollinger band indicating strong, perhaps extreme, upwards momentum.
Two obvious resistance levels are shown, one at 43% gain ($307) from today’s price of $213, and then next one at 150% gain above the first (taking us to $794).
We can expect some resistance at the 200 MA (thick white line), then a breakout to that first resistance level.
A break above that first resistance level should see all 3 MA’s align with a potent golden cross; 50 on top, 100 next, and 200 serving as strong support.
Team Sparkster is keen to share our analysis as the new bull run kicks off and our new strategy backtesting tool generates signals.
In future Published Ideas we will share many of the BUY and SELL signal arrows as they appear on our backtester.
This weekly chart with 200, 100 and 50 point moving averages reveals the the mixed pressures on current prices.
MACD turned green in the past few weeks — price has just emerged above the top Bollinger band indicating strong, perhaps extreme, upwards momentum.
Two obvious resistance levels are shown, one at 43% gain ($307) from today’s price of $213, and then next one at 150% gain above the first (taking us to $794).
We can expect some resistance at the 200 MA (thick white line), then a breakout to that first resistance level.
A break above that first resistance level should see all 3 MA’s align with a potent golden cross; 50 on top, 100 next, and 200 serving as strong support.
Team Sparkster is keen to share our analysis as the new bull run kicks off and our new strategy backtesting tool generates signals.
In future Published Ideas we will share many of the BUY and SELL signal arrows as they appear on our backtester.
Comment:
With ETH 2.0 launch just announced for July, and long-term ETHUSD momentum turning up, we expect big things from the altcoins this year!
Comment:
Moving as expected although price is way outside of the top bollinger band so either the bands turn upwards or price will come back to rest inside the bands soon.
Noteable as of this week is the 100 MA (purple) is moving down towards the 200 MA (white). A cross-over would be bearish.
Noteable as of this week is the 100 MA (purple) is moving down towards the 200 MA (white). A cross-over would be bearish.
Comment:
Interesting to note how price pushed way above top bollinger and is currently pressing back down to the top bollinger band looking for support. 2 days to the close of the Weekly candle...
