Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Ethereum News & Updates => Topic started by: MUGNIA on January 04, 2021, 03:52:43 PM
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The Ethereum (ETH) price increased by more than 40% over the past few weeks and is approaching its all-time high levels.
While the long-term trend is likely still bullish, a short-term decrease is expected before Ethereum resumes its upward movement.
Long-Term Ethereum Levels
The ETH price increased considerably during the week of Dec. 27 – Jan. 4, doing so by nearly 43%. ETH continued its increase earlier today to reach a high of $1,162.97. However, the higher prices could not be sustained, and ETH created a long upper wick and fell back below $1,000.
The $1,162 high also coincides with the 0.786 Fib retracement level at $1,150. If ETH continues increasing, the next resistance would be found at $1,250, before the all-time high price of $1,440.
Despite showing overbought levels, technical indicators are still bullish, indicating that ETH is likely to continue increasing and eventually reach a new all-time high in the process.
(https://s32659.pcdn.co/wp-content/uploads/2021/01/eth1-lead3-jan4-1.png.webp)
more : https://beincrypto.com/ethereum-eth-moves-above-1000-whats-next/