Ethereum Is About To Hit the $400 Mark

 

Ethereum Is About To Hit the $400 Mark

Looking for technical patterns in the market is the best way to cash in on potential profits. Ethereum is in a unique situation at the moment. Unlike Bitcoin, ETH is not sitting at it’s all time high. I saw this as a great opportunity because it gives ETH more growth potential in the near future.

Looking for technical patterns in the market is the best way to cash in on potential profits. Ethereum is in a unique situation at the moment. Unlike Bitcoin, ETH is not sitting at it’s all time high. I saw this as a great opportunity because it gives ETH more growth potential in the near future.

The best technical analysis strategy is to look at a situation and think about what most people will do. ETH is currently in a situation where a lot of people might start jumping on board to push it near $400.

I started off my analysis by drawing a resistance line and a positive trend line. The resistance line shows the price point that ETH has to break in order for it to breakout. The positive trend shows that ETH is currently in a bull market.

The bull market could continue until it hits the resistance of $400. Those two lines and the growth potential made ETH stand out to me as a great coin to profit from.

Ethereum Growth Potential

Growth potential comes down to a few different factors. The RSI is an indicator that helps determine if a coin is overbought or oversold. I used the RSI in this situation to figure out if ETH had upside potential. After looking at the RSI, I decided to look at the MACD to further my indicator analysis.

The MACD currently says that ETH is starting a negative trend. I personally think that this is a false negative because of how weak it is.

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