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This week I will be looking how our indicators currently see Ethereum, following a blockbuster trading week for the second-largest cryptocurrency.
Technically, all roads point to a 4,000 USD plus for ETH but are the technicals supported by our quant models?
Starting with Biyond Vanguard and Ethereum is enjoying a strong Greenweekly buy signal from Vanguard, and the fifth consecutive weekly buy signal in a row. Historical data shows us that Vanguard weekly has the potential to post a maximum of five weekly green candles in a row.
Therefore, next week could be another positive one, and we might see some consolidation or a pullback after that.
Ethereum has enjoyed a 90-point decline in Biyond Atlas over recent weeks, further highlighting the growing bullish momentum.
Atlas for Ethereum now sits around 11 points away from the Green zone at the time of writing, which suggests some major scope for ETH to go higher still.
Strong Buy