Ether Price Action Should Arrive Soon
Technical factors indicating support
Ether is treading ‘water’ the past days, however, a new indication for momentum move is out there.
Looking at the H4 chart, Ether’s price is consolidating, showing a triangle pattern.
The more intriguing picture is the ‘golden cross’ formation that is imminent. This is a bullish sign, as the fast moving average is crossing the slow moving average from the bottom to the upside.
Price action should arrive soon…
- Support levels:
Week: 214.0 Strong: 200.0 Key: 167.0
- Resistance levels:
Week: 255.0 Strong: 320.0 Key: 400.0
- Average prices:
Month: 228.0 Quarter: 237.0 Year: 512.0
What is a ‘Golden Cross’?
A golden cross is a technical pattern that is formed when an asset’s fast (short-term) moving average crosses its slow (long-term) moving average. A bullish pattern occurs when an asset’s fast average is crossing above its slow average, it is usually followed by a support confirmation when a price bottom has built up.
*Any views and opinions presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading.
This article was written by Yaron Mazor, a senior analyst at DX.Exchange