Possible... I would say 60% probability of breaking over 22200 and off to 24-27k
Early this week:
Bitcoin, Ethereum, and major Alts Are Rocketing Higher Today
While Bitcoin's solid momentum over the past week, fueled by what appears to be renewed bullish sentiment and strong demand for digital currencies, is garnering headlines, it's Ethereum's outsize moves higher that have grabbed most investors' attention. Last Thursday, Ethereum started rising on news that a tentative date of Sept. 19 has been set for "the merge," which will combine Ethereum's mainnet and Beacon Chain, creating a proof-of-stake blockchain. Since Thursday morning, Ethereum has surged more than 35% at the time of writing.
The next few months are shaping up to be volatile ones for these top crytpo projects. These various upgrades, previously seen as both catalysts and potential sources of uncertainty, are once again being viewed with a positive lens. That means that, right now, Ethereum's merge and Cardano's Vasil hard fork are the bullish catalysts investors have been hoping for.
That said, whether this momentum can be carried forward remains to be seen. This bear market is a doozy, and overall sentiment in the crypto sector continues to reflect extreme fear. Until that changes, it's going to be hard for such momentum-driven rallies to hold steady. Accordingly, investors may want to exhibit caution before adding aggressively to these top growth-oriented projects.
One Love,
the FXPROFESSOR
Early this week:
Bitcoin, Ethereum, and major Alts Are Rocketing Higher Today
While Bitcoin's solid momentum over the past week, fueled by what appears to be renewed bullish sentiment and strong demand for digital currencies, is garnering headlines, it's Ethereum's outsize moves higher that have grabbed most investors' attention. Last Thursday, Ethereum started rising on news that a tentative date of Sept. 19 has been set for "the merge," which will combine Ethereum's mainnet and Beacon Chain, creating a proof-of-stake blockchain. Since Thursday morning, Ethereum has surged more than 35% at the time of writing.
The next few months are shaping up to be volatile ones for these top crytpo projects. These various upgrades, previously seen as both catalysts and potential sources of uncertainty, are once again being viewed with a positive lens. That means that, right now, Ethereum's merge and Cardano's Vasil hard fork are the bullish catalysts investors have been hoping for.
That said, whether this momentum can be carried forward remains to be seen. This bear market is a doozy, and overall sentiment in the crypto sector continues to reflect extreme fear. Until that changes, it's going to be hard for such momentum-driven rallies to hold steady. Accordingly, investors may want to exhibit caution before adding aggressively to these top growth-oriented projects.
One Love,
the FXPROFESSOR
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