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0:00:00 Will Ethereum Golden Cross and BitPay Support Send ETH Surging?
0:00:04 This update is brought to you by “CoinCheckup News Updates” and was originally published on “NewsBTC”.
0:00:10 This week has been all about Ethereum.
0:00:13 Finally the second largest crypto asset on the planet appears to be moving without the influence of its big brother dictating things.
0:00:20 ETH prices are on the up again today and the fundamentals keep improving.
0:00:24 It has been another good day for Ethereum prices which have finally reached the psychological $200 level after a month trading below it.
0:00:32 A dip back to the 50 hour moving average just below $190 yesterday was short lived as price quickly bounced back.
0:00:40 The move back to just below $200 is the highest Ethereum has traded at since this time last month.
0:00:46 A slight pullback has dropped ETH to $197 at the time of writing and it needs to break this barrier before its next leg up.
0:00:54 A golden cross is clearly visible on the four hour chart as the faster 50 MA crosses above the slower moving 200. This is a bullish trend reversal signal and is usually followed by a rally.
0:01:06 However, one analyst has noted that total market capitalization has not increased indicating that no new money is flowing into ETH yet.
0:01:14 “ETH is up but total crypto market cap still staying flat, price increase could just be money being moved around from other crypto’s rather than fresh money.
0:01:22 ETH is up but total crypto market cap still staying flat, price increase could just be money being moved around from other crypto’s rather than fresh money.
0:01:31 Others are hoping that Ethereum can kick start a wider altcoin run as Bitcoin appears to be running short of buyers.
0:01:37 At the moment the rest of the altcoins are flat or in the red but the possibility of an ETH decoupling will be strengthened if it can break the $200 barrier.
0:01:46 Thanks for checking this video!
If you wanna read the whole article you can go to CoinCheckup.com or go to: “NewsBTC”, who originally published this news update on their website.
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