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HomeNewsEthereum: The party is getting wilder - but beware, risk of hangovers

Ethereum: The party is getting wilder – but beware, risk of hangovers




The crypto market continues to celebrate and at the end of the week all of the top 5 coins are increasing again this Friday. Ethereum in particular is currently taking a hit and has had a particularly strong week. Now the price is trading close to an important mark – it could get uncomfortable here – at least for a short time.

Investors are celebrating the comeback of cryptocurrencies and so the current rally accelerated once again, especially for Ethereum. Due to the course fireworks, the course was able to fight its way almost to the important psychological 4,000 dollar mark on Friday. This means that the price of an ether has risen by over 22 percent within the last five trading days.

The cops are still firmly in control, at least for the moment. Due to the sharp increase in a short period of time, the risk of profit-taking increases. Often, investors orientate themselves on round price tags such as the $ 4,000 mark. The RSI indicator is also quoted at 74 points and thus in the overbought area.




Tradingview.com

ETH daily chart in USD

The price for an ether is rising faster and faster and investors are enjoying the price fireworks. However, a dissolute party is usually followed by a hangover and so the risk of profit-taking increases in the short term, even at ETH. However, these should only be short-lived, as the relative strength should attract more buyers who are currently waiting on the sidelines for a cheaper entry. After that, the path to the all-time high of $ 4,384 is clear.

Note on conflict of interests:

The chairman of the board and majority owner of the publisher Börsenmedien AG, Mr. Bernd Förtsch, has taken direct and indirect positions on the following financial instruments mentioned in the publication or related derivatives that benefit from the price development that may result from the publication: Ethereum.


Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.
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