Description
The queen of cryptocurrency Ethereum ETH is enjoying a brief moment of peace while the king Bitcoin sleeps. Ethereum price is recording almost two and a half (2.40) percent rise in the price in the last 24-hours, Coin Market Cap recorded. Ethereum price has moved up from a low of $228 to the current position … Read more
The queen of cryptocurrency Ethereum ETH is enjoying a brief moment of peace while the king Bitcoin sleeps. Ethereum price is recording almost two and a half (2.40) percent rise in the price in the last 24-hours, Coin Market Cap recorded.
Ethereum price has moved up from a low of $228 to the current position of $242 range. The price took a good rally on the 6th of March and had been enjoying the slow and gradual rise to the current mark.
Ethereum price chart by Trading View
Ethereum price took three major rallies above the $246 mark but unable to sustain that position the cryptocurrency has been trading between $242 and $246 for the better part of the day. ETH price stands at the $243.80 mark at the time of writing.
Ethereum price movement: What to expect?
The trading view analyst Alan Masters believe that Ethereum price has finally found a breakthrough while the king sleeps. Masters explains that new highs around $260 – $285 are very much possible if the current movement persists.
Masters explains that the ETH price had hit the EMA50 (magenta) line and is sitting at $218.60. At the time of writing, the EMA50 has been tested, and EMA10 standing at $232.15 is being tested for further upward movement.
Given the current Ethereum position on the charts, it is likely that the current support levels would be firm enough to provide a new push to the $260 range. Once the breakthrough to $260 is met, Ethereum price can expect new highs near $285 mark. Cautious trading is the key to good profits and avoiding losses.
Featured Image by Grafvision
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. newcoint.com holds no liability towards any investments based on the information provided on this page.