Ethereum’s new all-time high prepares ETH for 'continuation to $5,000'
Analysts say multiple factors point toward ETH rallying to $5,000 and BTC is not expected to encounter significant resistance until $85,000. The cryptocurrency market is in high spirits on Oct. 29 after bulls managed to lift the price of Bitcoin (BTC) back near the $63,000 support zone and Ether (ETH) has established a new all-time high at $4,460. ETH/USDT 4-hour chart. Source: TradingViewHere's what anlaysts are saying about the market now that Bitcoin is finding support above the $60,000 level and Ether looks to enter price discovery. Bulls think BTC could hit $90,000The bullish moves....
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Ethereum’s price continues its fortification at an important medium-term level. The point where the market will choose a new medium-term direction is approaching. Ethereum’s price is situated between two important resistance lines. The bottom resistance of $8.4 is responsible for the continuation of the medium-term downward trend. If a turn to decline does not form at that level, the upward trend will continue. For the chance of the upward trend’s continuation to increase, Ethereum’s price has to hold and form a turn at the breaking point of $9.3. The levels responsible for the beginning....
Ethereum’s price is at a peak of the structure which will be decisive for the further trend. Which direction will Ethereum’s price choose? Will there be a turn to decline? Ethereum’s price is at a peak of a rebound towards the upward trend. That is also a turning point for the continuation of the medium-term downward trend. The way the price behaves in the near future will determine the outcome. If Ethereum’s price manages to fortify at that level, it will indicate that the bulls are a minority. In that case, and if the price forms a turnaround structure, the downward trend will be likely....
Ethereum’s price continues to go through an upward correction. This movement is now very likely to grow into a medium-term turn. A rebound or an upward trend? The upward movement is natural, because it’s common to have a rebound towards the previous trend before a new one starts. After this, we will either see a continuation of the downward trend or a turnabout. Due to its inability to fortify at the level of $8, Ethereum’s price keeps rebounding upward. In the short-term scope this rebound is equal to an upward trend. Consequently, the conclusion of this trend will coincide with the....
Ethereum’s community is preparing for the second upgrade of a two parts hardfork plan to address a number of bugs that were exploited last month which slowed down the network to almost a halt. The first of the two parts hardfork was just under a month ago with Jeffrey Wilcke, founder of Ethlabs and one of Ethereum’s Geth developers, stating that the second hardfork will initiate at block number 2,675,000 which is expected in about seven days. All node operators therefore, especially any Ethereum based business and miners, will now need to upgrade to the newly released Geth client or the....
Ethereum’s price is at a level where the following medium-term direction is going to be decided. What trend will the market choose? Ethereum’s price has stopped at an important medium-term resistance of $10. The future trend depends on which side of the market will be holding the advantage. That will be indicated by the market’s structure. The most likely scenario is that Ethereum’s price will not fortify and fail to form a turn to decline at the level of $8.6, which is important for the bears; that will result in the continuation of the upward trend and the increased probability of a turn....