ETH targets $235 End of Week
FOR IMMEDIATE RELEASE AND INFORMED TRADING DECISIONS
Every Moment ETH is looking extremely bullish, Nouvive has awarded ETH a BUY award, re-forecasting Ethereum to end the week just above $235.
Why does the Technical Analysis show?
- Ethereum has increased heavily on buy-side support in favour of a move towards $235
- Price action illustrates that over the next 12 hours, we will see all the Moving Averages on the 4H/6H cross-over, this would provide ETH enough momentum to push to $235.
- The 200MA on the 4H/6H has been breached – usually a coin will touch the 200MA before falling. This isn’t the case with ETH who appears to be stop running above it.
- RSI Stochastic has crossed-over to the bearish side – it is believed that a dump will be rejected with ETH going to $216 before pumping to $235.
- There is a large volume gap to be filled at $224.
What has Nouvive Research found?
- Nouvive Research has found historical data that when ETH closes the day above $221, ETH the following day immediately jumps to $235 before cooling off just shy of the figure.
- Market Sentiment is heavily increasing towards NET LONG for Ethereum.
- NR have found data that illustrates that the ETH play is currently not crowded – with many individuals still in lower market cap coins.
Nouvive and Nouvive Research sees ETH close the day above $224 and closes the week testing $235 at least once.
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