AE/BTC Technical Analysis
Despite all this, Aeternity's token, AE, spent the last whole month hanging around its all-time low level. However, as Ethereum struggled to make any gains in the past couple of days, the trading crowd appear to have flocked to this wanna-be Ethereum token. This helped its price jump 23% in 24 hours.
Looking at the AE/BTC daily chart, the pair has even tested the upper band of the daily Ichimoku Cloud, an indicator we use to get a better understanding of the price action.
With this, if AE is able to break above the cloud, it might generate enough bullish momentum to reach the next resistance level at 23% Fibonacci level which traces the downtrend that started back in June 2018.
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