Analyst predicts Ethereum to hit $2000 after imminent golden cross

22 Apr, 2019 | Updated: 22 Apr, 2019
by Will Heasman
Price Analysis
Analyst predicts Ethereum to hit $2000 after imminent golden cross

A prediction based on the occurrence of a golden cross may cause a potential breakout for Ethereum…

Back in March, an analyst known as ScienceGuy9489 made a bullish assumption based on the idea of a golden cross - a technical chart pattern in which a short term moving average (MA) crosses above its long term MA. Typically, this event is indicative of a major price hike for whichever asset it graces.

Within the analysis, ScienceGuy suggested that the 24th of April would be lift-off date for ETH based on the potential of the 50-day exponential MA (EMA) crosses above the 200-day EMA, setting an enormous price target of $2090.

However, the analyst has since revised his prediction, giving a broader time estimate of between the 30th of April, and the 5th of May, provided we continue an upward trend.

A golden cross for Bitcoin?

It’s also thought that this phenomenon may also occur within Bitcoin with the prominent trader and crypto personality, Moon Overlord, suggesting that we may be in for the first instance of a golden cross since BTC was at $200 in October 2015; a catalyst for the proceeding bull run and a all-time high of $480 by November of that year.

If we’re lucky enough to see this crossover, it could spell big things for Ethereum and potentially the wider cryptocurrency market.

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