ETH gains strenght. When will we see break out?
The indicator has drawn a 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 , after which we may see a breakout of the upper border.
Also, formed on the . 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 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.
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 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.