Ethereum Break Above $ 730, As Bitcoin Heads to $ 30,000
Ethereum and Bitcoin have been surging higher over the weekend and are keeping the pace
The surge in cryptocurrencies doesn’t seem to be ending anytime soon. BITCOIN surged from around $ 10, 000 early in autumn to $ 20,000 by late November. The area around $ 20,000 held as resistance for a few weeks once again, keeping the price below it until the middle of December.
There’s no stop for crypto bulls
At the same time, ETHEREUM was trading below $ 620. Buyers were finding it difficult to push above that level, but moving averages were not allowing the price to slip to low. Bitcoin broke above $ 20,000 eventually, which opened the door for further gains on Bitcoin, as well as on other cryptocurrencies.
The bullish trend was back on again and last week we saw some new highs in Bitcoin, as it moved above $ 24,000. Over the weekend, Bitcoin continued the bullish momentum, as cryptos have now turned into safe havens, with all the uncertainty all over the world.
The high print in Bitcoin stands at $ 27,470, which was reached earlier today, while Ethereum has pushed above $ 730. Moving averages have been doing a great job providing support on the daily chart, with the 100 SMA (green) doing so earlier this year, while now that the trend has picked even more pace, the 20 SMA (grey) is doing that job. So, cryptos continue to surge and pullbacks down should be seen as good opportunities to buy them.
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