In recent times Coinfomania reported an impending death cross on Ethereum. The report stated that more indicators were pointing to ether suffering a bigger dip than BTC. As at that time, the biggest altcoin was heading for a death cross and it was raising concerns about the extent to which ethereum will drop.
The report stated some other indicators that agreed with the theory. One such indicator is the pivot point standard. It stated that ETH was already bearish as it is trading below its pivot point. The Moving Average Convergence Divergence (MACD) was also bearish at the time as RSI was edging closer to the oversold region.
Danger seems to be averted as the market is general bullish once more. With the return of the bullish dominance, every cryptocurrency is on the rise including ether. The last nine days have seen a build-up to abating the EMA interception.
The first step the second largest coin by market cap took was to flip the 200-days EMA; that was the start of the uptrend. After the flip, ETH proceeded to cross the 50-days EMA: this cross triggered the 50-days EMA to stop its downwards trend and started going in the opposite direction.
As of the time of writing, Ethereum is bullish the price uptrend is still intact. The Pivot Point Standard (PPS) also agrees with the previous statement as ether is trading above its pivot point at $2,289. The buyers will look to start a price rally that will see the largest altcoin on its way to testing the first pivot resistance at %2,878. If the test succeeds, ETH may be on its way to $3,000.
A drive to $3k will positively affect other alts as we may see coins like Ethereum Classic, Solana, Polkadot, and Chainlink follow suit (A surge like that could signal the start of the alts season). The bulls will have to continue the price rally for the above prediction to come true.
