Ethereum cleared almost all losses incurred over the past few days in an attempt to yesilize the week.
The surge above $ 1.2 is easing as technical levels remain dull.
Investors appear to have rekindled their interest in the larger cryptocurrency market after focusing on individual sub-codes such as Cardano, Solana and Terra. Bitcoin dropped to where it tested support of $ 44,000 before rising above $ 47,000. As previously discussed, daily closures above $ 48,000 would clear the way to $ 50,000.
Ethereum:-
Pioneer’s smart contract token has grown to more than $ 3,000 as a result of London-based hardfork earlier this month. Buyers took control of the price that the generally bullish crypto market contributed, raising the price to $ 3350.
However, applications for $ 4,000 did not materialize, dropping to $ 2,950 by midweek. Price hikes across the board appear to have caused ether to rise by more than $ 3,200.
The Bulls, meanwhile, are looking forward to the $ 3,600 decider-a move that would prioritise $ 4,000 for the trip. However, for the bull leg to rise to $ 3600, it needs to exceed the 61.8% Fibonacci correction level.
On the other hand, higher support is required to maintain the upward trend if Ethereum faces sudden resistance. Sunday Dec.MACD, meanwhile, signalled a sell-off, implying that the presence of bears in the market could not be ruled out. Dec.
Daily ETH / USD chart
XRP / USD price chart for Trade Review
Wrinkle:-
Ripple managed to secure support at the $ 1.1 level, allowing the Bulls to get in and push the price above $ 1.2. However, the momentum looks short-lived as the price fluctuates towards $ 1.3.
A correction is expected in the European session, which could lead to a retest of Ripple support at $ 1.1. Please note that 100 SMA is about to go below 200 SMA. This pattern of decline, though not the Cross of death, may increase the downward trend in the short term.
Also, MACDs that go above the midline seem to have exhausted the Mojo and could be a selling signal
