Ethereum Price To Hit New All-Time High If This Happens: Crypto Analyst

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Ethereum Price To Hit New All-Time High If This Happens: Crypto Analyst - NewsBTC

Quick Summary:

To confirm this level as the bottom, we need to shift the daily trend to bullish again.” Adding to his technical analysis, Poseidon highlights the H8 timeframe and its EMA200 as the “GOAT” (Greatest of All Time) for trend determination.“I’ve studied the H8 EMA200 on ETH since 2018, compared it with other EMAs and timeframes, and I can confidently say that the H8 EMA200 is the GOAT,” he asserts.

ETH Price Analysis: $8,000 Is Possible If … According to Poseidon, Ethereum recently retested what he describes as the “most crucial support level on the chart” after a significant breakout earlier in the year.

Poseidon elaborates on the challenges of this bullish flip, noting the current bearish sentiment and the difficulty of breaking above these resistance levels.“While we’re sitting at a strong weekly and monthly support level, we’re still in a downtrend.