- Ethereum (ETH) hourly charts against Bitcoin signals a bullish move in the coming days.
- The ETH/BTC pair forming a golden cross on the hourly MACD chart with bulls in consolidation.
- Is 0.025 BTC a possibility for Ether in the near term?
Over the past six weeks, Ethereum (ETH) has been one of the best performers across top altcoins as the crypto market experienced a concentration of bullish momentum following Bitcoin’s soar to $10,100 USD earlier in the week. ETH is currently trading at $221.00 USD on BitFinex, representing a 1.7% drawback in the last 24 hours.
Despite the dripping value in dollar terms, ETH is gaining satoshi-value as the bulls lie in a consolidation phase as the price bounced off the resistance level at 0.023150 BTC to currently trade at 0.022695 BTC.
there is rejection at resistance, and there is consolidation at resistance
guess which one is bullish pic.twitter.com/h0oubB9Aug
— Trend Trader (by Dario Dunskus) (@DarioDunskus) February 11, 2020
Notwithstanding, ETH/BTC technical indicators on the short term charts signals a possible bullish momentum in the coming days.
ETH/BTC forms MA golden cross on hourly charts
Looking at the ETH/BTC hourly charts, a clear bullish pattern can be derived as price seems to consolidate in the resistance area signaling potential to break out above the key 0.023200 BTC resistance level in the near term. The moving average has formed a golden gross with the 50-day MA crossing the 100-day MA signaling a possible boost in the coming days.