Could Ethereum Bullish Divergence Lead It Higher in the Crypto World?

  • Ethereum has finally maintained price continuity above the $170 price level and is trading there positively.
  • The ETH/BTC pair is also looking good and is currently among the top 5 currencies. ETH is the biggest winner.

The price of ETH is slowly recovering against the fall, and currently, is performing well with very handsome price gains.

There is a strong and positive momentum in the price of ETH. After gaining the important support level of $155, the price experienced a massive gain that helped them reach the current level of $180. This surge is one of the best positive momentum of the year yet so far.

The current bullish pattern suggests that Ethereum could be holding up a medium-term bullish momentum. Currently, it is outpacing the bullish momentum of crown holders Bitcoin and other altcoins in the market.

Read Also : ICO, IEO and STO Models Fail: What’s Next for Crypto Fundraising?

Ethereum Technical Analysis

ETH prices varied widely between $155 and $157 and the time of their decline, suggesting that prices are still not strong enough against resistance levels but because of the entry of large amounts of profit as institutional funding prices correct themselves.

There has been a very impressive increase in the cryptocurrency market cap as it is also trading on the upside, and currently, it is at the USD 20,209,192,337 mark.

The technical chart shows that the Ethereum price is in a very strong bullish momentum; positive changes are visible on the graph. Prices rose above the $170 and $180 levels they may continue their current run.

According to the FIB retracement levels, the prices are performing well even when they are in a very bullish zone at the moment.

The 24-hour RSI is showing gradual gains after holding its trade in a strong bullish momentum. The price started to rise and almost reached the important 80 zone.

ETH can hit the $200 level as this cryptocurrency turns resistance levels into support and maintains gradual gains.

Leave a Comment