Ethereum prices are continuing to rise and this is happening throughout all of the trading sessions that happened on Friday It is now looking to score a high of $618 but it then got pulled down to $576. That being said, the market is still looking to move along towards the upward trending line and this has been evident ever since the 10th of April. Of course, you also have to take into account the 76.4% retracement as well as this looks to have been breached. The next resistance level is currently around $713 and this is great news for those who have invested in the currency. So that brings around the question, will the bulls that are on the market have the upper hand here? How are the next 24 hours going to play out for Ethereum?
Let’s take a look at the day 1 chart from Bitfinex. It’s really easy to see that Ethereum is moving along the upwards trending line and this has been clear ever since the day 1 chart. When you see the last two-week ratings, we have seen higher highs when compared to most of the other days. A candlestick pattern has certainly been formed lately and they have formed by the bearish trend. It’s said that Ethereum is going to keep on going up and now the SMAs have gone on to complete the bullish alignment, it’s safe to say that everything is going the right way.
There is a high chance that Ethereum will carry on rising towards the next level of resistance. This is at around $713.24 at the moment and this does correspond very well with the 61.8% retracement. This is said to happen in the next 72 hours. When you look at the USD chart that has been provided by Bitfinex, it’s also clear to see that the price for Ethereum is moving on an upward trend and that this is very evident when you look on the 1-hour chart.