The Ethereum again above $ 100. Bear market came to an end?
Source:
«Green background» on Bitcoin a very positive impact on altonah. If before they were sunk the next time the sink is the main cryptocurrency, now show pretty good growth. The Ethereum still managed to break above the level of $ 100 and will soon try to test the new resistance.
The Overall situation looks like this:
the-
the
- , the cryptocurrency was able to gain a foothold above the resistance zone of 97 and 99 USD; the
- for the 1-hour chart formed an uptrend with the next support at the point of $ 97; the
- the asset continues to move up to the target 115 dollars.
At the moment Ethereum is trading at $ 105. Over the past 24 hours, the coin grew by 11.5 percent.
theTechnical analysis
Yesterday's rise began with the breakout of $ 90 and the formation of a local uptrend. Trading pair quickly reached hundreds of dollars and has overcome 100 SMA moving average. This is a very positive sign, which may be evidence of a trend change. After a small correction growth continued and the price of Ethereum finally again became a three-digit number.
Source: NewsBTC
Now, the cryptocurrency konsolidiruyutsya near the line $ 105, the price action is playing into the hands of the bulls. Below them are supported by the uptrend line from the nearest point in the area of $ 97. It also coincides with the Fibonacci 0.5 level, so while the sharp drain below will not. For a pullback to $ 100 is still in force, then Ethereum will most likely move to test the line 115 dollars.
The Readings of technical indicators talking about steady growth. MACD is firmly in the bullish zone and RSI is approaching oversold. In this situation it is best to open the long on a pullback with a small shoulder. Ideal for orders of $ 100 with a stop loss in the area of $ 95.
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