Ether, more commonly known as Ethereum, is the world's second largest cryptocurrency, and it may have become heavily bullish due to the start of the "Gold Cross" in the daily chart. Golden Cross, when the 50-day simple moving average crosses over the 200-day simple moving average, indicating that the price has become bullish and that the crypto curve has bottomed out.
Historically, Ethereum's last Gold Cross took place in February 2017, when the price of ETH was ~ $ 10; The price after this cross was bumped to $ 1,600, which was a meteoric increase of 15,000%. As strong as this sounds, this may not be the good news that the crypto community hopes for, as the "Gold Cross" is not absolute, and there are times when the crossover can be a fakeout. Crossover fakeouts had occurred for Bitcoin in 2014.
The weekly chart for Ethereum has consistently generated higher altitudes since 2019, which is a bullish indication. The MACD indicator and the RSI indicators both indicate a steady increase since 2019.
All aboard the "speculative train"
If another meteoric rise can be expected from the crypto system, the price must go under a parabolic rise. The press price of Ethereum was $ 174 and had a market value of $ 18 billion; is assumed to increase approx. 10,000% increase [instead of the 15,000% rise] the price of Ethereum will now be about $ 8,000 by March 2020.
A Reddit user @alkalinegs commented:
"If you look at the last golden cross in early 2017, it took a few days to do something The death cross in 2018 even resulted in a bullshit. -> Don't Expect an Immediate Reaction. "Few people use exponential moving averages and disagree with the use of Simple Moving Averages, which have been invented. Another Reddit user, @DeliciousPayDay commented:
"I strongly disagree. The SMA 200 is more important and everyone in the crypt looks at it. After breaking 200MA at $ 151, ETH went straight to $ 180 before it was sold and jumped directly off 200MA the next day and resisted opposition. The 50/200 Gold Cross only happened on the SMA and last time it went, ETH went from $ 12 to $ 1400. "
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