Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Topic started by: Trumpet on June 15, 2021, 06:45:44 AM
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Ethereum’s trading this week has appreciably yielded for the bulls. Support at $2,400 was defended at all cost during the weekend session; hence buyers channeled all efforts toward resuming the uptrend. The break above $2,500 on Monday bolstered Ether past $2,600. However, the pioneer token seems to be struggling with another hurdle at $2,650.
At the time of writing, Ethereum trades at $2,587 while bulls fight the uphill battle to clear the path to $3,000.
Is Ethereum’s short-term outlook strong enough for the uptrend?
The four-hour Moving Average Convergence Divergence (MACD) has a bullish impulse. This follows recovery from the negative region into the positive area. Note that the MACD follows the asset’s trend and measures its momentum.
Traders use the MACD to identify positions to sell the top or buy the bottom. Signals from the indicator compel investors to make certain decisions. For instance, when the MACD line crosses above the signal line, it is a call to buy. On the other hand, crossing below the signal line is a call to sell.
At the moment, Ether seems to be in a buy zone, especially with the MACD line expanding the divergence above the signal line. In addition, the indicator has moved above the zero line into the positive region. This massive bullish signal could call more investors into the market as they speculate the ultimate rise past $3,000.
ETH/USD four-hour chart
ETH/USD price chart
The immediate downside is protected by the 100 Simple Moving Average (SMA) on the same four-hour chart. If this support remains robust and unbroken, ETH’s least resistance path would be upward.
It is worth keeping in mind that the most crucial hurdle lies at $2,650. If broken, Ether will start the journey to $3,000, but if it stays intact, overhead pressure will mount as Ethereum drops to retest the anchor at $2,400.
Ethereum intraday levels
Spot rate: $2,587
Trend: Bullish
Volatility: Growing
Resistance: $2,650
Support: $2,400source (https://coingape.com/86704-2/)
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After yesterday's rise in prices and some fall in the evening, today I see that the price growth continues with renewed vigor. The price of bitcoin has now risen to $ 40,338, and ethereum to $ 2619. Let's see if ethereum can overcome the $ 2650 milestone during the day. If this happens, then it will be possible to hope for a further recovery of the market, which, in turn, will allow us to consider the current fall in prices as a prolonged correction, and not a bearish season.
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This year etherium but touched 4100$.The price of Etherium has come down to around 2,200$ as the price of all coins in the market has come down.Now the prices have started rising from there again.Today the price of Etherium is 2620$. Ethereum will be able to touch 3000$ again as the cryptocurrency market is now upbeat.
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At the moment, investors are very actively investing in Bitcoin, when investors will stop investing in Bitcoin, then investments in altcoins and especially in Ethereum will begin, so if this year there will be another growth of the cryptocurrency market, then I think that Ethereum will easily return to the price of 3k$, so we are waiting for this moment.