Ethereum’s Moving Averages Point to “Bullish Continuation” With a $1,000+ Target

Ethereum’s Moving Averages Point to “Bullish Continuation” With a $1,000+ Target

Ethereum has seen some slight weakness throughout the past couple of days. This has come about despite the intense strength that Bitcoin has displayed, signaling that the resistance ETH faces between $380 and $400 may be insurmountable.

Although ETH has yet to post any sort of technical breakout, it remains a strong likelihood that the digital asset sees further upside in the mid and long-term.

One trend seen while looking towards ETH’s daily moving averages is incredibly bullish and is strikingly similar to one seen in 2016.

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If history repeats itself, this signals that the cryptocurrency will be trading at over $1,000 in the coming couple of years – a possibility that one analyst is calling likely.

It is important to note that this potential macro uptrend will depend somewhat on Bitcoin, as it is unlikely that Ethereum will see fresh all-time highs in the coming few years while BTC remains either bearish or stagnant.

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