The crypto market has undergone a new turn (predicted) by many a few days ago when Bitcoin created strong support in the $ 3400 and broke the resistance of the $ 3450. The consequences are being felt throughout the ecosystem at the time of writing this post, with śubitas price increases and a whole green landscape in the crypto market, with Litecoin leading the winning race in the most important cryptocurrencies.
As a side effect and a few days from the fork of Constantinople scheduled for February 25 of this 2019, Ethereum has not been left behind and drag a positive growth in the last 24 hours of double digits.
According to CoinMarketp, Ethereum continues to be the third most important cryptocurrency by market capitalization, with $ 12,500 million dollars and an increase in the volume of trade in the last 24 hours at just over $ 3.5 million. Its current price is $ 119.36 with a growth of 13.99% in the last 24 hours.
According to the 1H chart in Binance, the recovery of Ethereum is literally an uptrend rally influenced by the good vibes of the ecosystem. It has happened in less than 48 hours of falling to almost below $ 100 per unit to rise to the current price of $ 119.14 per altcoin. Since December 17, 2018, Ethereum does not present a sudden performance in such a short time.
According to the Klinger Oscillator indicator, Ethereum's uptrend trajectory will continue with less strength than the last hours, but in an uptrend. This is evidenced by the plot line (red) above the signal line with a strongly drawn bullish rally.
On the other hand, the* Bollinger Bands* have expanded after coming in a long tunnel for some time and the lower and upper bands have begun to diverge, with presence of bulls is taking control in short .
The Parabolic SAR also graphically shows Ethereum's uptrend with its projection below the candlestick chart.
In relation to the 1D chart in Binance, the outlook is encouraging in relation to current prices, but in general terms it remains a bearish trend that does not project more than $ 200 for the cryptocurrency. However, in the short term it projects a recovery of up to 23.38% in the next two days if good news continues to the ecosystem.
The Chaikin Money Flow (CMF) indicator draws the good momentum of Ethereum, with a strong upward slope of the CMF chart, a symptom of the strong inflow of money into the ETH ecosystem.
The MACD has made a significant change towards the north in the last few hours, taking off from the average mobile line, but still far from changing the bearish territory for the altcoin.
However, the ***RSI ***seems to counteract MACD and indicates that a strong buying zone is causing the rise in prices in the cryptocurrency, hence its bullish rally in the last hours.
In general, Ethereum is indicating that the bullish wave of the entire crypto space is alive and that for the remainder of the weekend, it at least projects higher growth in its prices to generate even profit of up to 20% or more, as long as the volatility of the crypto ecosystem does not reveal the opposite.
This time Ethereum seems ready for the next hard fork of Constantinople, for the third time. On this occasion, the update will be different from the one previously proposed, since there will be two branches in the same block, the first is the initial fork, Constantinople and the second is the Petersburg fork.
According to the latest announcement, the forks would be held around February 25, instead of February 27, 2019. The forks will be located in the block · 7,280,000 at the estimated time of 11:49:25 UTC.