ETH/USD price analysis: Analysts peg Ethereum as the next coin to outperform major cryptocurrencies
- Popular cryptoanalysts believe that those who missed out on Bitcoin should jump on to Ethereum.
- ETH/USD went up from $333 to $337.50 in the early hours of Thursday.
Analysts believe that investors who can no longer invest in Bitcoin should invest in Ethereum instead. Alunaut, a cryptoanalyst and co-founder of Gamified social trading terminal, Aluna Social, tweeted: “Missed out on $BTC? $ETH is giving you a second chance.”
Another popular crypto enthusiast and analyst, known by the name Bleeding Crypto also has the same stance towards Ethereum. He said, “Look at the historical screenshots and see for yourself that ETH has outperformed BTC in ROI year after year.”
ETH/USD daily chart
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ETH/USD has had four bullish sessions in a row and is trending in an upwards channel. The price has gone up from $333 to $337.50 in the early hours of Thursday. The 20-day Bollinger band has widened, indicating increasing market volatility. The latest session has gone above the upper curve of the Bollinger band, showing that the price may be overvalued. The daily price chart is trending above the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves.
The moving average convergence/divergence (MACD) indicator shows 11 straight bullish sessions. The Elliot oscillator has had seven straight bullish sessions of increasing intensity. The relative strength index (RSI) indicator is trending in the overbought zone around 77.25.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
