Ethereum pushes $ 130
While the wider crypto market has been in lull over the past few days, Ethereum (ETH) has risen as late as the end. The popular cryptocurrency, which recently surpassed the XRP for market capitalization, is up 6.00% over the last 24 hours and finds itself selling for $ 130.52. Many have argued that this feature is a by-product of ETHDenver, one of the premier annual events throughout the Ethereum ecosystem.
Either way, the fact is that ETH has surpassed its counterparts in recent memory. This has left many wondering – what's next for Ether?
According to Ledger Status, a number of technical factors indicate that the crypto access may see a "big shift" in the near future. Referring to the daily ETH / BTC chart, the prominent analyst, who commands over 66,000 on Twitter, tells ETH that it has pushed its 200-day moving average for the first time in months. Furthermore, the asset's 50-day MA and 200-day MA are ready to cross, considered an important occurrence of many commentators.
Ledger concluded that from a trade perspective in US dollars, he targeted "about $ 180" for Ethereum. The analyst did not give an accurate timeline, but it became clear that he addressed the chart from a medium perspective.
DonAlt, another prominent player, made a similar comment, but with even more bullish undertones. He recently claimed that Ether Against Bitcoin could start a long-term rally unless it broke the resistance at 0.045.
Bitcoin Breakout can build itself for
While the aforementioned comments seem like only Ethereum prepper for a strong movement, other analysts have argued that the flagship cryptourrency could also breakout.
Josh Rager, an adviser to TokenBacon and Blackwave, recently took Twitter to convey some analysis on Bitcoins chart. While Josh had no explicit predictions, due to the non-volatility of BTC's value, he noted that as the crypto course has not yet gone below its "weekly historical support level", it will probably build its next strong move.
But Which Way Will It Lead?
Many argue that lower downs are in for the broader cryptocurrency asset class. Case in point, just yesterday, CoinTelegraph reported that Brian Kelly of BKCM and CNBC would not be "surprised" if BTC were to stand under $ 1,500. Crypto Dog echoes Kelly's feelings almost to a tee, noting that a $ 1,800 bitcoin is not only possible, but that such a move would not annoy him at least.  From a minor anecdotal point of view, technical analysts are stuck Lower downturns for this market are incoming. Financial Survivalism noted that by analyzing Bitcoin's "Hyperwave", assets may fall to $ 1,165 in the near future. He was so confident that Bitcoin would eventually beat that price point, 68% lower than today's level, that he made an effort with Murad Mahmudov, a leading crypto analyst and partner of Adaptive Capital who expects this market to reach the bottom of April / Can. According to Survivalism's tweet, he bets 0.1 BTC, valued at $ 360 US dollars in current, that the flagship cryptocurrency will reach $ 1,165 on Bitstamp before $ 10,200.
Title Image Courtesy of Descryptive.com Via Unsplash