ETH gains strenght. When will we see break out?

6
0
Share:

The Stochastic indicator has drawn a bullish divergence and is close to the overbought zone. It looks like it may decline again in the coming hours, which would ideally match the price movements in the ascending triangle , after which we may see a breakout of the upper border.

Also, bullish divergence formed on the RSI . In addition, there is a significant gap to the upper limit overbought zone. First of all, it is necessary to gain a foothold near the middle line, after this we will see an upward breakout.

The price is definitely moving in an ascending triangle and has already made 4 touches. With a high degree of probability, in the next few hours we will see a decline to $340, which matches the lower border of the figure. After that, growth is likely up to $400.

Bollinger bands indicate a similar move. During Saturday’s fall, the price pierced the lower border 4 times, after which it rebounded from it and has already reached the middle Bollinger line. Now the chart is consolidating near it, but with a high degree of probability we will see a breakthrough of this line up to the level of $390.

It is also worth noting an important factor regarding Ethereum . During the fall in the price range of $310 – $325, observers noted a large number of new whales on the Ethereum network. Each of them bought Ethereum in the amount of 1,000 ETH to 10,000 ETH, which is about a billion dollars. Researchers have counted 68 such new addresses on the Ethereum . It could indicate a strong and long-term uptrend for the coin. Therefore, the rise to $400 will be only the beginning.