Outlook in Ethereum is more positive than BTC

Ethereum sticks to bullish trend

Ethereum 232.06 USDT (+ 2.98%)

Ethereum was losing up to 6% during the day with a negative diverging view from BTC yesterday. However, the market's morale in general and Ethereum's upward trend has the chance to appear as the fastest returning coins in the coming period. In addition to holding on to the trend of yesterday, remaining above the 50-day simple moving average has provided Ether users with morale in this market.

As seen in the graphic, the narrowing of the bollinger bands suggests that there may be a sudden movement to get out of the jam band in the coming days. For now, holding onto the trend signals that this direction may be rising. 225 USDT trend support, 221 USDT Bollinger subband and 216 USDT support are 50-day average support, although these levels can be considered upward in following and holding.

ETH, Daily chart

Resistors: 238/244/252

Supports: 225/221/216

2020-06-16