Mo.bi - Crypto Currency Tracker logo Mo.bi - Crypto Currency Tracker logo
NewsBTC 2022-04-27 22:05:23

Ethereum May Rally To $3k If Bulls Hold On To Long Position

The price of Ethereum (ETH) was in bad health on Tuesday, falling almost 6% to the south and breaking below $2,800. Bulls, on the other hand, were waiting to jump in and buy ETH at a steep discount. The price of Ethereum is up 2.5% in early trading and appears to be heading back to $3,018.55, recouping Tuesday’s losses. Ethereum May Recover The price of Ethereum was stung by dismal earnings from Alphabet, Wall Street’s favorite tech stock, with Youtube losing market share to Tik Tok. Investors quickly rebalanced and reevaluated the situation, eventually shrugging off the news this morning because earnings are still strong, and no substantial reports on future losses were released. As a result of the spillover fall from Alphabet’s disappointment, the price of Ethereum is ripe for the taking, trading in the ASIA PAC open at a juicy discount just below $2,800.00. Bulls swiftly snatched up pieces of the price action and are poised to recoup all of Tuesday’s losses, putting the price back to $3,018.55. From there, it’s only a short distance to $3,163.35. If earnings reflect excellent news in the coming days, predict a buy-side explosion to $3,391.52, resulting in a 20 percent profit. ETH/USD trades close to $3k. Source: TradingView With Facebook’s numbers expected to be released this evening, a turnaround is possible. Expect a huge decline in the Nasdaq, which will drive cryptocurrencies to new l...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.