BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Ethereum Price Analysis: ETH spikes to new record highs, draws closer to $2,500

Ethereum Price Analysis: ETH spikes to new record highs, draws closer to $2,500

Ethereum ignores brief hiccup in the market to trade new all-time highs at $2,453.
ETH’s short-term technical picture is firmly bullish, as shown by the MACD.

Ethereum hits another milestone, extending the bullish leg toward $2,500. Across the board, crypto assets retreated, but Ether remains steady. Bitcoin has been rejected from highs above $64,000 and currently changes hands slightly above $62,000. The rest of the cryptocurrency market is mixed red and green.
Ethereum technical breakout targets $2,650
Ether trades at $2,443 at the time of writing, following a break above the daily chart’s ascending triangle pattern. This is a bullish continuation pattern form by two trend lines connecting relatively equal peaks and ascending lows.
After an extended uptrend, the triangle comes into the picture, followed by a consolidation period. A breakout is expected from the pattern and occurs when the price cracks the x-axis resistance. An increasing trading volume confirms the breakout, which has an exact target. For instance, ETH is expected to rally 34% to $2,650.
ETH/USD daily chart
Read more
ETH/USD price chart by Tradiingview
The bullish outlook has also been affirmed by the Moving Average Convergence Divergence (MACD) indicator. Since the beginning of April, this indicator has sent out a bullish signal encouraging investors to get more stake in Ethereum. For instance, the MACD line (blue) position above the signal line suggests that Ethereum is still in a buy zone.
Similarly, a break above $2,500 may trigger massive buy orders as bulls shift their focus toward $3,000. The triangle target of $2,650 would be a conservative prediction as investors stream in to join the party.
Ethereum intraday levels
Spot rats: $2,467
Trend: Bullish
Volatility: Low
Support: $2,400 and $2,200
Resistance: $2,500 and $2,650
The post Ethereum Price Analysis: ETH spikes to new record highs, draws closer to $2,500 appeared first on Coingape .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Cool huh? Please read the full Article: Ethereum Price Analysis: ETH spikes to new record highs, draws closer to $2,500


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News