Ethereum Call: Path to $292
Ethereum: There is a path to $292 – Lets see if we can get there
CACM Global released statistics illustrating that Bitcoin and Ethereum has been in the same range pattern for the past 3-4 Months.
Such is the case for Ethereum who has been stuck the same range for close to a Month. A month is a long time in Crypto-Assets.
Nonetheless, based on the behaviour of Bitcoin, it can be seen that Ethereum too will rise over the course of the weekend.
What will Happen today?
Any dumps that has occurred in Ethereum over the past several hours has been non-damaging, quickly being brought up.
This explains to us at Nouvive that Ethereum is ready to pump back to its level of $292.
Moreover, the Volume Fractal of today is reminance of the 21st of this month, where we saw Ethereum jump from $274 to 292 before being rejected.
What happens in the past, can be used to tell the future.
There are several volume gaps at different intervals that can be seen on the chart below:
- $278 volume gap is sufficient enough to take Ethereum to $280.
- $281 If passed and stays above this, could allow based on the volume gaps in the $2 range to take it far enough to $288.
- If $288 is hit and Bitcoin jumps, we will see $292.
Moreover, the RSI Stochastic is illustraing that a crossover did occur today, thereby tell us that a Bullish momentum is sufficient enough to carry Ethereum to $292.
Unfortunately, the Social Media sentiment is illustrating a bearish face for Ethereum.
See the levels below: