Ethereum is looking extremely bullish atm, a continued bullish cycle with several upside breaks on the way as per the chart ^ analysis above ^ - Ethereum has broken the 1Hour resistance level @ 625.37, I would like to see price action hold above this level and distribute sideways before rocketing further into uncharted territory, which is a technical analysts dream - ie uncharted territory = path of least resistance for ETH.
Why is Ethereum rocketing ? - Larger and more recognised altcoins continue to rally after a period of instability and the renewed confidence of adoption into the cryptocurrency markets. Ethereum also has been classed to have a 'more' decentralised Blockchain than Bitcoin - suggesting bullish momentum, investor confidence and further adoption / developments in the underlying blockchain technology and adoption of Ethereum as along term sustainable digital token !
The Daily 200 EMA (exponential moving average) is at 532.03 - suggesting the Bulls are in control, all the whilst ETH remains / trades above.
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Why is Ethereum rocketing ? - Larger and more recognised altcoins continue to rally after a period of instability and the renewed confidence of adoption into the cryptocurrency markets. Ethereum also has been classed to have a 'more' decentralised Blockchain than Bitcoin - suggesting bullish momentum, investor confidence and further adoption / developments in the underlying blockchain technology and adoption of Ethereum as along term sustainable digital token !
The Daily 200 EMA (exponential moving average) is at 532.03 - suggesting the Bulls are in control, all the whilst ETH remains / trades above.
Please feel free to Info@intelligenttradingacademy.com for bespoke charts / analysis on any cryptocurrency or altcoin.
Please follow, share, like and keep an eye on updates in the financial markets
Thankyou