Want To Become A Better Investor?
Yes, I Want To Make More Money
I Do Not Want To Make More Money.
At the end of last week’s trading among cryptocurrencies, Ethereum’s (ETH) upward trending market value caught investor’s attention. While many of the daily headlines in this industry concern Bitcoin (BTC), the entire market remains extremely active.
According to sources close to ArmyOfBitcoin.com, this crypto is testing the waters for breaking the $228 resistance level. In early trading this week, slight gains have ETH at $214. This bullish turn of events remains in place despite a small decline in trade volume.
The sense of optimism is tied to a trading phenomenon known as a Golden Cross. This occurs when the 50-day Moving Average crosses the 200-day Moving Average from the downside.
The high end of $228 could prove difficult to hold ahead of the launch of ETH2.0 ( not to be confused with Ethereum Classic ) this July. Yet, the Golden Cross might suggest enough bullish momentum to break this level.
This is another situation that needs to be watched. It could attract even more bulls over the course of the next few days or weeks.
Investors and traders alike also need to utilize risk management business practices as part of the analysis process.
The writer of this piece for Ethereum World News is John P. Njui. He is described as a crypto enthusiast with a background in electrical engineering. Earlier this month, he also took a closer look at XRP as a much smaller crypto in total market value.
The lone bright spot with is minimal player was its ability to hold resistance in the $0.12 to $0.15 range during the crypto market crash in March. These values go back to July of 2017. XRP then staged a rally to $3.84 in January of 2018. This was its all-time high.
Current market factors suggest that any strong run by the bulls could drive XRP as high as $0.77 in the coming months.