The crypto market simply handed $2 trillion of market cap because of a broad rally in altcoins. Now the highest altcoin, Ethereum , could also be poised for a transfer to new highs.
An important function on ETHUSD’s chart is its breakout above the February excessive round $2,000, adopted by a short retest and tight consolidation sample. Previous resistance seems to be new help.
Second, wanting again to current value motion we discover a pair of upper lows. Value first held the $1,400 zone that was earlier resistance. It subsequent clawed again from a dip beneath $1,600. That’s a textbook ascending triangle .
Third, MACD has turned constructive as ETHUSD powered again above its 50-day easy transferring common and 21-day exponential transferring common early final week.