Ether Outlook Improves as Price Pushes Above Key Moving Averages
- ETH’s is above the 100-day moving average (MA) with a $180 target along the 200-day MA.
- ETH/BTC pair has moved above the 200-day moving average (MA) for the first time in 242 days.
- RSI is beginning to change structure (ETH/USD) forming higher lows and higher highs and is at its highest point since May 2018.
- Larger than average increase in daily volume for months Nov. and Dec. most in over 12 months.
The world’s second largest cryptocurrency by market capitalization ether (ETH) has seen a stronger showing from the bulls after rising 36.77 percent in February so far.
Like bitcoin, ETH has also crossed over a key long-term indicator along the 100-period moving average, a sign that a larger trend change could be in development. Price action peaked along a strong area of support turned resistance at $140-$149 before retracing shortly after Monday’s trading session began.
Daily chart (ETH/USD)
As can be seen…