Crypto Market Overview: Massive bullish movement incoming? Multiple coins are about to chart the golden cross pattern
- The golden cross is one of the most reliable bullish signals out there.
- Bitcoin, Ethereum, Bitcoin Cash, Neo, Dash, Monero, Bitcoin Gold, and Ethereum Classic are about to chart the golden cross.
The golden cross is one of the most popular indicators in technical analysis. It occurs when a short-term moving average (50-day) of an asset rises above a long-term moving average (200-day). The golden cross indicates an upcoming bullish run. Interestingly enough, multiple coins are about to chart the golden cross pattern.
In the charts below:
- 200-day simple moving average (SMA 200): Blue.
- 50-day simple moving average (SMA 50): Orange.
BTC/USD Daily Chart
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- BTC/USD is currently negotiating with the $5,300 support line. The golden cross could give the bulls enough momentum to take the price up to $6,000.
ETH/USD Daily Chart
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- ETH/USD has already charted the golden cross.
BCH/USD Daily Chart
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- BCH/USD recently enjoyed a rally following all the drama surrounding Bitcoin SV.
NEO/USD Daily Chart
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- NEO/USD should chart the golden cross over the weekend.
DASH/USD Daily Chart
- DASH/USD should also chart the golden cross over the weekend.
XMR/USD Daily Chart
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- XMR/USD went up slightly from $68.80 to $69.15 as markets opened this Saturday.
BTG/USD Daily Chart
- The SMA 200 and SMA 50 curves on BTG/USD are pretty far apart, so we don’t know whether they will converge or not. However, they are on the path for now.
ETC/USD Daily Chart
- ETC.USD is currently trading for $6.31.
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.
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