RATE Group | The Highly Accurate Ethereum Golden Cross is Forming, Is a Major Rally Incoming?
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The Highly Accurate Ethereum Golden Cross is Forming, Is a Major Rally Incoming?

14 Feb The Highly Accurate Ethereum Golden Cross is Forming, Is a Major Rally Incoming?

Posted at 17:47h in Ethereum News by

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Ethereum’s stellar performance of late has seen it gain 113% in the six weeks since the start of the year. This achievement reversed a six-month downtrend and helped to inject a sense of anticipation for the rest of 2020.

Buying pressure from this looks to be forming a golden cross on the price charts. Which may well signal a further spike that could take the number two cryptocurrency on an extended bull run.

Ethereum Daily Chart

Ethereum/USD daily chart with 50-day and 200-day moving averages. (Source: tradingview.com)

Golden Cross Forming On the Ethereum Price Chart

Following the cooling of the market momentum, high cap prices, on the whole, show modest gains today, with XTZ leading the pack.

At the time of writing, Ethereum has seen a slight dip, after hitting a year to date high of $278 yesterday. Currently, the price is at $265, having bounced back up from the $260 support area.

There is a likelihood of further drops in the short term, which may well test the $255 support level. However, the overall

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