Ethereum has set a new all time high price. Is this the top for Ethereum or will it continue growing?
Extremely high gas fee and comparatively very slow transactions has become a big issue on the Ethereum network. Despite this major problem, Ethereum is the favorite smart chain of a lot of developers and crypto enthusiast which can be clearly seen by the increase in ETH price.
All Time High Price and Alt-season
ETH set a new all time high price today. Will this rally continue or is this the top for Ethereum? We will do the analysis for you on this below. When Ethereum starts rising, it takes all the altcoins along with it so whenever ETH price increases, it marks the beginning of alt-season.
Let us review ETH price.
ETH/USD – Higher Highs and Higher Lows
On the daily time frame, ETH has been consistently making higher highs and higher lows. This is a clear indication that ETH is still in a bullish momentum.
ETH/USD – Support Zones
ETH has established 4 important support zones at $1391, $1582, 2044 and $2165. If you are looking to enter, you should place 10% orders at Support 4, 20% at Support 3, 40% at support 2 and 30% at support 1.
ETH/USD – Price Prediction – Fibs
If ETH can continue staying above the support zone of $2165, we can start seeing a move towards $2895, $3822 and $5322. Failure to hold support 1 could lead to a drop towards the lower support areas.
Join us on Telegram to receive free trading signals.
For more information on cryptocurrency, visit the Altcoin Buzz YouTube channel.
Images courtesy of TradingView.
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
View original post