Cryptocurrency Ethereum (ETH/USD) is trading at 268. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator.
Ethereum (ETH/USD) forecast and analysis on June 4, 2019
As part of the Ethereum course forecast, a test of level 262 is expected. Where can we expect an attempt to continue the growth of ETH/USD and further development of the upward trend. The purpose of this movement is the area near the level of 298. The conservative area for buying of Ethereum is located near the lower border of the Bollinger Bands indicator strip at level 252.
Cancellation of the option to continue the growth rate of Ethereum will be the breakdown of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair below 245 area. This will indicate a change in the current trend in favor of a bearish for ETH/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.
Ethereum (ETH/USD) forecast and analysis on June 4, 2019 implies a test level of 262. Further growth is expected to continue to the area above the level of 298. The conservative area for buying Ethereum is located area of 252. Cancellation of the growth option of cryptocurrency will be a breakdown of the level of 245. In this case, we should expect a further fall.
Ethereum price analysis: ETH/USD majestically breakouts, eyes set on $220
- Ethereum is knocking at $215 resistance but the focus in the short-term remains to be the $220 hurdle.
- According to the technical levels, the impressive performance will continue in the coming sessions on Tuesday.
Ethereum has been among the best performers this week. The second-largest cryptocurrency with a market cap of $22.9 billion is changing the narrative by pushing altcoins in a bullish direction irrespective of Bitcoin’s downward trend in the last few days. Data by CoinMarketCap shows Ether having corrected 7.68% higher in the last 24 hours compared to Bitcoin’s -0.07% drop in the same period.
Ethereum price technical picture
The 4-hour chart shows Ethereum not only above the resistance at $200 but also testing the hurdle at $215. The price is trading above the simple moving averages; the 50 SMA currently playing catch up at $187 while the 100 SMA holding ground at $180. The gap between the 50 SMA and the 100 SMA continues to rise as a signal for the improving bullish picture.
Besides, the moving average convergence divergence (MACD) is scaling the levels in the positive territory. The bullish divergence at +8.42 suggests that the buyers will continue to shape the direction of the price in the coming sessions on Tuesday. Ethereum buyers are looking forward to kicking the price above $220, a move that is meant to open the way for a correction towards $240 and $300 resistance targets.
ETH/USD 1-hour chart
Ether, XRP Rise to 1-Month Highs While Bitcoin Falls
Ether, XRP Rise to 1-Month Highs While Bitcoin Falls
Demand for alternative cryptocurrencies has seen their performance rise over the last 24 hours despite bitcoin’s (BTC) failure to take another leg up.
It raises the question as to whether the “alt season”, a period where alternative crypto sees considerable growth regardless of BTC’s performance, is finally here.
Ether (ETH) and XRP (XRP) rose between six to 10 percent on the day backed by solid demand seen in large 24-hour trading volumes.
The event marks a divergence from recent weeks with BTC’s dominance rating, a share of the total crypto market value, having hit a 30-month high above 70 percent earlier this month.
That number has since dropped to 68.3 percent as interest in alternative cryptos begins to pick up once more.
As seen above, both XRP and ETH experienced swift rallies in their price between 10 pm on Sept. 17 and 3:00 am Sept. 18, while BTC was down 1 percent over the same period.
Other notable crypto assets such as Stellar (XLM), Binance Coin (BNB) and Litecoin (LTC) are also up between 2.5 and nine percent.
The total market capitalization of all crypto, excluding BTC, also rose by more than $5.4 billion over 24 hours, while total trading volume was up $7.2 billion.
It could be a sign that investors are growing wary of any further potential gains in BTC’s growth and looking elsewhere, given that its price has remained within a $300 range for nearly 2 weeks.
Disclosure: The author holds no cryptocurrency at the time of writing.
XRP, ETH and BTC image via Shutterstock; charts via Trading View
Ethereum Uptrend Continues as Analysts Eye Further Gains
Ethereum (ETH) has been standing at the helm of the recent upwards momentum incurred by the aggregated crypto market, and it has been able to extend its momentum in spite of Bitcoin erasing much of its recent gains during an overnight drop.
This bullishness has allowed ETH to decisively break above $200, which will likely prove to be a key support level in the near term, and any continued bullishness amongst altcoins will likely allow Ethereum to post significantly further gains in the coming days and weeks.
Ethereum Surges Past $200 as Bulls Roar
This upwards momentum was first sparked earlier this month when ETH dipped below $170, which was met with strong buying pressure that allowed the cryptocurrency to begin its upwards ascent that has since pushed it past $200.
In the near-term, it is highly probable that Ethereum will continue expressing further bullishness, as it has been rising in the face of downwards pressure on Bitcoin, which has begun to see its dominance over the crypto markets recede as altcoins begin moving upwards.
BigCheds, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that ETH is currently pushing up towards its 200-day moving average in the lower-$200 region, which may be where the crypto finds some resistance that slows its current ascent.
Will ETH Continue Pushing Higher?
Analysts do expect that Ethereum will continue climbing higher in the near-term, as Trading Room – a popular crypto analyst group on Twitter – explained that ETH will likely touch between $209 and $219 before it begins slowing down.
“#ethereum is trending stronger. Expecting the strength to continue. Don’t short randomly. Wait for the range high to establish and local top formation. Ignore the Short Zone from yesterday. Considering the strong move, expecting 209-219 before any major cool down,” they noted.
It does appear that Ethereum is moving independently of Bitcoin in the near-term, and ETH’s short-term strength may ultimately allow other altcoins to climb higher.