Tony “The Bull,” a technical analyst and the Editorial Executive at NewsBTC, now thinks Ethereum (ETH), the second most valuable cryptocurrency, is about to explode. “The Bull” cites technical candlestick formation in the ETHUSDT daily chart as a leading indicator for ETH, a coin now trading above $3,000, the highest level over two years.
Is Ethereum About To “Explode”?
The analyst pointed to the Bollinger Bands (BB), a technical indicator used to measure volatility. Though the BB is a lagging indicator, like most technical indicators, including the moving average, traders associate it with tapering volatility whenever its band narrows.
As history shows, this “squeeze” often precedes key breakout levels (in either direction) that can shape how prices evolve in the coming sessions. However, this changes whenever bands begin to expand. Usually, when this happens, asset prices, in this case, ETH, will likely rally.
Looking at the ETHUSDT monthly chart, p
We współpracy z: https://bitcoinist.com/ethereum-to-explode-key-technical-indicator/
