{"id":56868,"date":"2019-09-23T03:32:59","date_gmt":"2019-09-23T01:32:59","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=56868"},"modified":"2019-09-29T13:15:49","modified_gmt":"2019-09-29T11:15:49","slug":"ethereum-technical-signal-bull-trend","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/ethereum-technical-signal-bull-trend\/","title":{"rendered":"Ethereum (ETH) Signal Hints at Strong Price Uptrend"},"content":{"rendered":"

Ethereum Still Has Room to Run<\/strong><\/h2>\n

Ethereum<\/a> (ETH) has been on quite a ride over the past week. After bottoming at $170 earlier this month, the cryptocurrency embarked on a strong recovery as Bitcoin flatlined, reaching as high as $225 as bulls managed to take control of the ETH market.<\/p>\n

While the cryptocurrency is already up 10% over this past week, a technical signal is hinting that there is more upside for the cryptocurrency. This signal: a bullish cross above the 200-day exponential moving average.<\/p>\n

Prominent analyst Rekt Capital recently noted<\/a> that Ethereum broke through the aforementioned moving average, which he claims is a “gauge of long-term market sentiment”, for the fourth time in its history. Rekt adds that this is the third time that Ethereum has seen this technical signal in a macro uptrend.<\/p>\n

The first time this took place during February 2017, Ethereum rallied higher by 13,071% in the coming months; the second time, which was actually earlier this year in May, ETH gained just over 100%.<\/p>\n

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The 200 EMA is a gauge of longterm market sentiment$ETHUSD<\/a> cleared through its 200 EMA only 4 times before<\/p>\n

3 of those 4 times were when $ETH<\/a> was in a macro uptrend<\/p>\n

Here are the rallies for each of those 3 times:<\/p>\n

February 2017: +13,071%<\/p>\n

May 2019: +101%<\/p>\n

Two days ago: Pending pic.twitter.com\/h2QuNKINjj<\/a><\/p>\n

— Rekt Capital (@rektcapital) September 21, 2019<\/a><\/p><\/blockquote>\n