Ethereum Daily · Back To Basics: EMA55

[AIcash]

On 17-April Ethereum hit a high of $2,465, to reach a nice 41% growth since the 6-Feb low. This is a very strong recovery so far.

I can remember vividly those days when I was saying, "Ethereum is a strong buy below $2,000." It is not possible to buy Ether below $2,000 anymore but thank God the chart shows plenty of room available for additional growth.

EMA55 is a very strong moving average on the daily timeframe, it can make all the difference. This level was first conquered 7-April, two weeks ago. The moment ETH managed to move above, it never moved back below. This is the bullish confirmation.

The level was tested four times after the bullish break. Now it is working as support as Ethereum moves even higher. Today, we are seeing the confirmation of EMA89 on the daily timeframe.

We looked at the monthly and weekly charts. We look at the MACD, Stochastic and RSI. We looked at hundreds of projects throughout the entire altcoins market. Not one bearish, everything points up. When we zoom out, zoom in or anything, all timeframes, all indicators, everything says higher and that's exactly what is happening.

ETHUSDT is set to hit a target of $3,700 in the coming weeks, can be sometime next month. The next jump can open $2,800 or $3,000 easily.

While the recovery has been good, we still need to erase the late January sudden flush. Here we get the "mirror image." A fast crash tends to be balanced by a strong rise.

Bullish momentum has been building up for months. This force can no longer be contained. Ethereum will shoot up and it will be a fast rise. Late January/early February but in reverse. Bitcoin trading close to $85,000, Ether above 3K.

Thank you for reading.

Namaste.

[kevin1]

2k$ for eth still feels like unbelievable