Crypto markets are holding steady for another day following a slight pullback from their recent rally. Ethereum is still looking strong but can it finally pull out of its two-year bear market?
Ethereum Bulls Building
Since the beginning of 2020 Ethereum has outperformed bitcoin. In just three weeks the world’s second most popular crypto asset has surged 33% while its big brother has made just over 20%.
Since the weekend’s minor pullback ETH prices have been building slowly higher, reaching $170 a few hours ago and holding there.
The next major resistance point is just above $180 where the 200-day moving average sits, and beyond that is the psychological $200 barrier.
If current momentum continues a golden cross between the 50 and 200 day moving averages could occur by the end of January. The last time this happened was in early April 2019 and a 133% surge followed over the next two months.
Longer-term technical signals are also turning bullish. The weekly MACD has crossed for the fourth time in history as noticed by this ETH…