Zak Mir, a senior UK-based stock and crypto analyst, has recently been interviewed by financial journalist Alessio Rastani. In the interview, Zak explained why Ethereum (ETH) is on the verge of entering a strong uptrend and the potential price levels to watch for possible bullish breakouts.
- Ethereum price has already exceeded the 12-day moving average following the rejection at the critical support near 1200. Currently, the price is testing the dynamic resistance at 50-SMA on the daily chart.
- Zak expects ETH to extend the current bullish momentum and exceed the 50-day moving average. “Let’s say it breaks resistance at 1400 near the 50-day, I mean, it was quite simple, almost as simple as it can be, but for a 50-day moving average, it still may play as a strong resistance,” he stated.
- The price must exceed the 200-day moving average to extend the upside movement. Besides, market experts will closely watch how the price behaves near the upcoming resistance at 1750 and 2040.
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