Can Etherum (ETH) rise faster than the other altcoins?

Denys Serhiichuk U.Today

Bulls keep dominating the situation on the market as all of the top 10 coins remain in the green zone.

Top coins by CoinMarketCap

ETH/USD

Yesterday, the Ethereum (ETH) price followed the cryptocurrency flagship and broke the upper limit of the channel of $1,860. Further growth took place at medium volumes, and toward the end of the day, the pair tested the psychological level of $2,000.

ETH/USD chart by TradingView

Bulls tried to continue their growth tonight, but so far they have not been able to gain a foothold above the $2,000 mark. During the day, a rollback to the area of average prices is possible.

If the moving average EMA55 stops the rollback, then one can hope for continued growth to the area of $2,100.

ETH/USD chart by TradingView

On the daily chart, Ethereum (ETH) keeps growing after yesterday's bull run. At the moment, we need to pay close attention to the area around $2,000. If the daily candle closes above it, there is a good chance of keeping the rise going to the zone of the most liquidity at $2,300.

ETH/USD chart by TradingView

On the longer time frame, Ethereum (ETH) has bounced off the support at $1,730 for the third time against a low trading volume. If bulls can keep the growth going, the nearest level at which sellers may seize the initiative is the mark of $2,250.

Ethereum is trading at $1,988 at press time.

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Author

Denys Serhiichuk

U.Today

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis.

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