Critical resistance:
In the US Dollar market, the price action of Ethereum is crossing a critical resistance zone. This area starts from $1200 and ends up to $1600.
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25 SMA broken out:
Now if we switch to the Ethereum with Bitcoin pair chart. Then on the weekly time frame, the price action has broken out the 25 simple moving average and moving to the upside to 200 simple moving average. Once the 200 SMA will be broken out then a very powerful bull run can be started.
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This move can be the same as in the US Dollar market when the price action broke out 25, 50, 100 and, 200 simple moving averages and the smallest time period moving average moved above all and the biggest time period MA moved below all. Then the priceline of Ethereum reached very close to an all-time high price.
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Conclusion:
The priceline of Ethereum has achieved another milestone by crossing up the 25 simple moving average with Bitcoin pair weekly chart. If the 200 SMA will be broken out then it can reach the all-time highest price in the Bitcoin market as well.
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