Ethereum: After Forming a Golden Cross, ETH May Be Ready to Surge Towards $300
Crypto Guide
Live News

Keeping up with all the cryptocurrency news and updates is not an easy task, but we are up to the challenge! This way we can help our readers to keep track of changes in these fast growing currencies. Just like our site, is willing to face this challenge and on their site, they compile the features, key elements, and recent news involving bitcoin casino sites and which are the best to try!

Ethereum: After Forming a Golden Cross, ETH May Be Ready to Surge Towards $300

May 23, 2019      Cryptoknowmics


The aggregated crypto markets have been firmly locked in an upwards trend over the past several weeks, mainly due to Bitcoin’s series of surges that brought it from recent lows of roughly $4,000 to highs of $8,400. This surge has allowed other cryptocurrencies, including Ethereum (ETH), to also put some distance between their current prices and their recent lows.

Although the market conditions have improved significantly as a result of this upwards momentum, in order for Ethereum and other cryptos to climb higher, it is critical that BTC continues climbing higher and breaks into the $8,000 region.

Ethereum (ETH) Must Break Above Resistance at $260 to Surge Towards $300

At the time of writing, Ethereum is trading up 1.5% at its current price of $255, up slightly from its daily lows of $250 which were set earlier today. Over the past several days, ETH has been able to hold above $250 on several occasions, which may signal that this is a level of support for the crypto.

READ  Bitcoin Price Goes up by 8% After Goldman Sachs Criticism

While looking at Ethereum’s chart over the past month, it has been able to surge from lows of $155 to highs of $275, before dropping slightly and stabilizing at its current price levels.

Whether or not ETH continues surging higher in the near-future likely depends most on whether Bitcoin is able to break above the lower-$8,000 region, which has proven to be a level of resistance for the cryptocurrency.

Mayne, a popular cryptocurrency analyst on Twitter, spoke about both Bitcoin and Ethereum in a recent tweet, noting that BTC needs to hold above $7,884, and ETH needs to break through $260 in order for the two cryptos to further extend their upwards momentum.

“$BTC – Need to hold $7884 and red OB for upside target $9k+. Break below red OB I expect $7300 and maybe lower to $6400. $ETH – USD pair needs to break and close thru $260 to get to $300. BTC pair had a nice reaction of range low if we can hold EQ and flip grey OB looks good,” he explained.

ETH’s Golden Cross May Lead it to Surge Higher

Recently, multiple traders and analysts on Twitter noted that Ethereum had formed the coveted golden cross pattern, which typically results in an extension of an asset’s momentum.

READ  Kirobo Releases KIRO Token Along With Whale Proof Staking Program

TheCryptoCactus, a cryptocurrency trader, recently told his nearly 6k followers that he believes the recent golden cross pattern could help ETH surge towards $300.

“$ETH just confirmed golden crossover, could be trading above $300 real soon,” he explained.

Although there is some controversy surrounding the utility of golden cross formations as a predictor of future price action, the technical formation is certainly emblematic of the extremely positive price action ETH has incurred in recent times.

As Bitcoin continues battling to gain control of the lower-$8,000 region, it is highly probable that Ethereum will continue consolidating around its current price levels.

Go to Source
Author: Cole Petersen

#Altcoins #Crypto News #Cryptocurrency #Cryptocurrency News #ETH Price Prediction #Ethereum

The dynamics of Crypto Fraternity is changing at a lightning speed. Access to most critical information in a timely and curated manner is extremely critical for the health of your investments. Cryptoknowmics is the fastest platform to bring and deliver news and critical information from above 3000 sources at your fingertips. We cover almost all aspects of cryptoworld from exchange, tokens, coins, dapps, ICOs, IEOs, STOs, events, airdrops, jobs, services, wallets, etc. We strive to be the complete solution for your crypto needs.