Ethereum Sends a new jerk through the crypto market after a sudden upward movement on Thursday, with its price finally recycling the most important $ 2500 mark again. Bullish Signals is currently in line with this renewed strength, which points to a possible continuation of the remarkable rally.
Golden Cross lights up Ethereum -Diaram
By investigating the latest price performance it is observed that Ethereum Technical Landscape just came alive and revived Market optimism with a typical haussey signal. Melijn Trader, an experienced crypto expert and investor, reported This bumpy signal in a post on X, which suggests a potential turn of an upward trend.
Specifically, this important positive signal is a golden cross. A golden cross is considered to be a haussey indicator that occurs when the short -term moving average average climbs over the long -term. It is a crucial signal that can turn a trend from the disadvantage to the upside.
According to Melijn Trader, Golden Cross has appeared in 1-day time frame diagram after a period of declining price action. This signal, in line with the latest upturns, indicates growing speed that is likely to pave the way for the next Significant rally to higher price levels.
When looking at the daily diagram, Ethereum Golden Cross flashed just a little above the critical price mark of $ 2500. Melijn, the trader stated that this point is where bull markets tend to start, and history does not take it easy.
Given the fact that a Golden Cross is a Haussey development, Melijn Trader claims that ETH is currently sending a clear signal about A breakout to the upside. With prices that are currently rising and technical indicators that flash positive signals, the expert is sure that the next leg is not a matter of, but when.
ETH bounces by test key trend line
Melijn, the trader also has deep in the 2-day time frame diagram for Ethereum, disclosure That Altcoin is about to rally. The analyst has identified a falling resistance trend line and a rising support trend line, which currently determines the next potential direction for Ethics.
A look at the chart shows that Ethereum recently broke over the falling resistance trend. ETH, however, failed to initiate a rally, which led to a consolidation period within $ 2,200 and $ 2,700 price range.
Currently, Altcoin just nailed a re -tasting of the falling resistance line and has jumped perfectly from the line. ETH’s recovery from the trend line points to signs of rally comfort, with Melijn Trader who notes that this is where the next wave will begin.
While Altcoin is preparing for a lift, the expert stated that the market is looking at this key signal. However, only a few are placed for the imminent leg-up.
Image from Getty Images, charts from tradingview.com
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