Ethereum HODLers Can Expect Strong Recovery, ETH Price To Hit $3200 By Weekend

Free Bitcoins: FreeBitcoin | BonusBitcoin

Coins Kaufen: Bitcoin.deAnycoinDirektCoinbaseCoinMama (mit Kreditkarte)Paxfull

Handelsplätze / Börsen: Bitcoin.de | KuCoinBinanceBitMexBitpandaeToro

Lending / Zinsen erhalten: Celsius NetworkCoinlend (Bot)

Cloud Mining: HashflareGenesis MiningIQ Mining


The leading altcoin and second-largest cryptocurrency by market cap had faced a strong pull of 11% priced at $3030 in the past week. It’s just not Ethereum or Bitcoin, the whole crypto market was trading to and fro creating a sense of fear among investors and traders.

Meanwhile, now Ethereum has risen above the $3,050 mark trading above the $3,100 level. At the time of writing the altcoin is trading at $3,118 up by 2.10% over the past 24hrs. Traders are now eagerly waiting for the currency to rise above the $3,200 level to confirm the bull market.

Ethereum Price To Rebound Strongly

According to Santiment, an on-chain data analytics firm, Ethereum price has now recovered strongly after declining to $2,960. Even the Ethereum on-chain transaction volume that points out profit/loss data is currently in the bullish zone after three days of bearish pull.

However, the bullish news is that the price is signaling a strong surge in the coming days as the price tries to stabilize above the $3,100 level. Thus suggesting a strong bullish trend above the $3,100 level.

Interestingly, also the Ethereum price action depicts a rebound from the $2950 level. The immediate resistance barrier for the ETH price lies at $3,188 and if the bulls manage to surpass $3,200, then the altcoin will be set to witness a strong bull rally in the coming days.

Additionally, even the retesting of the ascending triangle pattern validates that a bullish recovery is set to happen with Ethereum forming a new support level at $3030. Therefore, unless and until the altcoin doesn’t fall below the newly formed support level of $3030, a strong upward trend can be expected in the coming days.

Was this writing helpful?

Source link



Post Views:
1



[ad_2]

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close