Ethereum After a sudden upward movement on Thursday, it sent a new shock to the crypto market, which ultimately recalled the key $2,500 mark once more. The bullish signal is now tuned to this new intensity, indicating the potential for a prominent continuation of the rally.
Golden Cross Lights Ethereum Chart
Looking at recent price performance, we observe a vivid return to Ethereum’s technological environment Market Optimism With a typical bullish signal. Melin, a veteran crypto expert and investor trader, It has been reported This bullish signal in X’s post suggests a potential inversion of the upward trend.
Specifically, this important positive signal is the golden cross. Golden Cross is considered a bullish indicator that occurs when the short-term moving average exceeds the long-term. This is an important signal that allows you to reverse the trend from the negative side upside down.
According to trader Melijn, the Golden Cross appeared on the one-day time frame chart after a period of price decline. This signal shows that it will increase momentum, which is likely to match the recent upward direction and open up the next path. Substantial gatherings to higher price levels.
Looking at the daily charts, Ethereum flushed the Golden Cross a little above the key price mark of $2,500. Trader Melin emphasized that this tends to kick off the Bullmarket and that history has not underestimated it.
Given the fact that Golden Cross is a bullish development, traders claim that ETH is currently sending clear signals Breakout to benefits. With prices rising now and technical indicators flashing positive signals, experts are sure the next leg is not the case and not the issue.
ETH bounces after retesting the key trend line
Traders are also digging into Ethereum’s two-day time frame chart. clearly That Altcoin is preparing for the rally. Analysts have identified trendlines for downward resistance and support trendlines for ascending order, determining the current next potential direction ETH.
Looking at the charts, it shows that Ethereum has recently surpassed its downward trend. However, ETH failed to start the assembly, resulting in a consolidation period of less than $2,200 and $2,700. Price range.
Now, Altcoin nails the retest of the downward resistance trend line and is bounced completely off the line. Rebound to signs of continuation of ETH rebound rally from trend line points. MelijnThe Trader notes that this is where the next wave begins.
While Altcoin prepares for the lift-off, experts said the market is monitoring this important signal. However, only a few have been placed for immediate leg-ups.
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