The Ethereum course will take off soon: 3 factors that indicate the upcoming surge in ETH volatility

The Ethereum course will take off soon: 3 factors that indicate the upcoming surge in ETH volatility

By World Crypto | World Crypto | 25 May 2020


The main altcoin is still trading above $ 200, despite the latest correction in the crypto industry, which may continue.

One well-known trader suggested that ETH is preparing for a major leap in the coming days or weeks. Even given the bearish forecast for BTC, this analyst is considering an upward break from the many-week side trading range.

At least there are three factors that can contribute to this breakthrough.

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Today, as a result of a decrease in the BTC rate to $ 8800, the price of the main altcoin was adjusted to $ 197, but the bulls actively bought this drop.

Earlier this year, after falling from an annual maximum of $ 290, Ethereum was a less effective asset than Bitcoin. Since then, the bulls could not provide a stable upward momentum, and lower highs were achieved during the bidding. As a result, a multi-week consolidation was noted below $ 200.

Now, amid the manifestation of BTC weakness, most altcoins are again vulnerable to a stronger correction. Analyst MoonOverlord identified three critical factors that could become a catalyst for the explosion in the ETH market, however, in his opinion, the leap will be upward ...

  • The ratio of longs to shorts at the level of historical maximum.
  • The number of longs at the level of historical maximum.
  • The ETH rate is near historical lows; consolidation has been going on for almost two years.

Something is about to happen.

This time I hold the majority position. Long!

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The next movement of the ETH course will be bullish

The analyst did not limit himself to declaring his position and explained why he was considering a bullish scenario in the main altcoin market.

MoonOverlord noted that strong demand from buyers just below current price levels indicates that large traders are preparing for growth.

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World Crypto
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