ETH Price Analysis: Bullish Momentum on the Rise
hello traders
Over the last 7 days, the price of ETH has been fluctuating between 1916 to $2141. The overall trend of the cryptocurrency was bullish as the price kept moving upward, but there were moments when ETH experienced dips.
Looking at The Moving Averages:
The moving averages help to smooth out the price action of ETH on the chart. Over a couple of days, the market remained supported above the moving averages, and the price has not gone below it. This indicates strong bullish sentiment in the market. also, the 200-day moving average has caught up with the price action of ETH, indicating that the short-term trend is upward.
higher highs
ETH formed a couple of higher highs and higher lows which line up with trend line support indicating the market will likely continue upside
Based on the technical analysis, the overall sentiment of the cryptocurrency is bullish. The moving averages are acting as support, we have higher highs, and trend line support.
Given the current technical analysis, it would be a buyer of ETH for short-term gains. However, It is also advisable to keep an eye on the RSI indicator to monitor any changes in market sentiment.
Over the last 7 days, the price of ETH has been fluctuating between 1916 to $2141. The overall trend of the cryptocurrency was bullish as the price kept moving upward, but there were moments when ETH experienced dips.
Looking at The Moving Averages:
The moving averages help to smooth out the price action of ETH on the chart. Over a couple of days, the market remained supported above the moving averages, and the price has not gone below it. This indicates strong bullish sentiment in the market. also, the 200-day moving average has caught up with the price action of ETH, indicating that the short-term trend is upward.
higher highs
ETH formed a couple of higher highs and higher lows which line up with trend line support indicating the market will likely continue upside
Based on the technical analysis, the overall sentiment of the cryptocurrency is bullish. The moving averages are acting as support, we have higher highs, and trend line support.
Given the current technical analysis, it would be a buyer of ETH for short-term gains. However, It is also advisable to keep an eye on the RSI indicator to monitor any changes in market sentiment.
Comment:
ETH also testing its 50-day moving average, as predicted, similar to BTC, we could see a rally from here, the next level is the 100-day MA near 1700
Comment:
up 7.5% from first entry, congrats
