The crypto market has been getting more and more exciting to follow these days after the bulls hit it again back in April. This happened after a long bearish winter and after a 2018 which saw Bitcoin’s price fall by about 85%.
Since April, BTC managed to surge by about 100%, and the most important crypto in the market is expected to surge even more.
Analysts have been saying that if it breaks the $10,000 psychological level, then the FOMO gets unleashed and hits the mainstream.
ETH to surge
Ethereum (ETH) price predictions are also positive lately, and the most recent one says that we should definitely expect a surge.
Smartereum writes that ETH should expect more gains in the upcoming days “as the fabled golden cross appears on ETH price charts as confirmed by cryptocurrency analysts.”
The online publication mentions Etherdamus, a crypto analyst and popular member of the ETH community.
They write that on Twitter, he predicted more gains for ETH price, after confirming the “golden cross” forming on the price chart.
— Formerly ScienceGuy9489 (@Etherdamus) May 21, 2019
His tweet triggered a lot of enthusiasm among the commenters on Twitter.
Someone said: “Currently stuck in a triangle formation; the golden cross could be a good indication of a bullish breakout in a couple of days!”
Smartereum makes sure to refresh readers’ memory and explains that the golden cross is a popular technical chart pattern which shows the potential for a massive rally.
This indicator pops up on a chart when a coin’s short-term moving average (SMA) crosses above its long-term moving average (LMA).
ETH to test resistance at $280 and $300
Smartereum writes that in Etherdamus’ chart, “the 50-day exponential moving average (or 50 EMA) cut across the 200-day exponential moving average (200 EMA).”
If the price for ETH will race just as the “golden cross” suggests, it is expected to test resistance at $280 and $300.
At the moment, ETH is priced at $256.28 on CoinMarketCap, and it’s trading in the green.
Fergus Reynolds joined Crypto Daily Gazette as managing editor in January of 2018 and is helping to lead the digital media startup’s next phase of expansion. A veteran business journalist with more than 10 years experience economics, Fergus has published content for Huff Post and Buzz Fee and was among the earliest journalists covering bitcoin and the innovations it later inspired. Fergus tells us he has “several” bitcoins.