The Greatest Rise of 11 Months in Ethereum

The Greatest Rise of 11 Months in Ethereum

Ethereum, which has attracted attention as the second crypto currency that has the highest market value in the crypto currencies after the Bitcoin, has attempted to test its highest levels in the last year. Ethereum, which is among the most important crypto currencies, tried to overcome the critical 280 resistance. It can be said that in Ethereum, which has accelerated its ascension with the power received from the support of 171 days with 50 days moving average level, there is a movement parallel to the sudden high movement in Bitcoin. According to a previous speculative news flow, due to the sudden price movement in Bitcoin, there was an expectation that investors would withdraw their money from Bitcoin and invest in Ethereuam. We realized that this expectation is strengthened with a premium over the expectations in Bitcoin prices and in a short period of time by providing profit to the investor in a speculative volatility. This led to a search for cheaper alternative crypto currency. While many crypto currencies cannot survive, we see an increase in demand for Ethereum, which has a high market value. In particular, a pricing above $ 300 may result in a very high rise in the Ethereum. A striking study in the markets was the flow of information from one third of all the crypto para Ether's Ethereum blockchain to be found in the hands of only 376 people. These large shareholders, who have digital wallets, were given the nickname pay whale lam, while the share of the shareholders was low. It can be said that the fact that these non-traders are the only owners of the portfolio increases the confidence in the Ethereum crypto currency. On the other hand, it is seen that many important senior officials have expressed their interest in the Ethereum currency rather than Bitcoin and this has led to an increase in demand by many investors. Ethereum's strong resistance is above $ 280, which is necessary for the continuation of the rise. In addition, according to the RSI indicator, we see that the technical appearance is in the overbought zone. Profit sales from this region can be monitored within the framework of $ 223.00 support. For ETHUSD, however, we need to see closures above $ 270 for a new buy potential.