$ETH $ETH
Strong Technical Indicators Forming a Bullish View
Strong technical indicators justify the high price levels of Ethereum’s price trend. The surge above the 78.6% Fibonacci retracement level means new support is at $3,550, which is further bullish. There are also signs of an ascending price pattern, which indicates to analysts that ETH may go as high as $6,000 before reversing. Another bullish indicator for Ethereum is that, in the near future, a 50-day EMA will cross above the 100- and 200-day EMAs. This development emphasizes Ethereum’s bullishness, as the market is extremely supported by a $3,200 price floor. With all this put out there, Ethereum has good chances of a growth trend, which will appeal to investors who buy the dips.