News

Bears May Weaken Amidst ETH’s Next Price Move – Alex Krüger

In the past weeks, the crypto asset had been buoyed by bullish sentiments of a nearing Altseason.

ETH’s massive sell-off days before might have suggested that the bull trend might be over; however, on the other end, some analysts are seeing the potential of a further climb by the crypto asset.

ETH Ranges Within $254/66, Targets Key Supports

Analysts are on the lookout for Bitcoin‘s next price move as it is believed to forecast ETH’s price trends because both crypto assets have been on par in their price trends in the last couple of days.

The buy zone is indicated on the daily charts horizontal confluence levels, while the 5 and 13 moving averages point to the top at $290 price level.

For s scenario play Kruger referred to the double top formed on the daily chart by the crypto asset previously, noting that it might falter and may not be a bearish indicator as some analysts predicted.

Image Credit: Stock photo Secrets

Leave a Reply

Your email address will not be published. Required fields are marked *