Ethereum Markets Rallied Last Week, Looks to Continue
The Ethereum (ETH) markets initially dipped last week, then after US Tax Day saw Key support at $500 and bounced, breaking above the important resistance at the $600 mark, then heading to $700.
Currently, Ethereum is trading at: 634.74, +13.41, or +2.1583%, as of 4:11a BST, the market is open and the circulating supply is 98.7-M ETH.
Technically the indicators tell us the price of ETH will move to $800 sooner rather than later, as the buyers and traders come back into market with the sense that it had seen and set a bottom.
We will see short-term dips that offer value, there are strong bids under the market, as long as the price is stable above support at $400, eventually the buyers and traders will again take hold of the market driving it North.
The HeffX-LTN Technicals and Sentiment are Neutral to Bullish in here.
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Have a terrific week.
Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.