Many altcoins climbed over 10%, including ZRX, REN, LUNA, MKR, NEXO, SNX, OCEAN, COMP, KNC, AAVE, ALPHA, DOGE, SOL, CRV, CAKE, 1INCH, and EGLD. Out of these, ZRX gained nearly 60% and it cleared the USD 1.20 level.
Overall, bitcoin price is showing positive signs above USD 36,500 and USD 36,200. If BTC clears the USD 37,500 and USD 38,000 resistance levels, there could be a strong increase to USD 40,000.
ETH Rally for $3,000, a steady growth for $2,000
As you can see the above chart demonstration, the new support is around 1200$-1250$. ETH is showing a steady growth since last 30 days now, and its all clear to hit $2,000 target very soon.
4EMA technical indicator (10,20,50,100), is still bullish after so many ups and downs. Although ETH is completely bullish but not in hurry, it is showing a very steady growth rate and gaining more and more traction over social media and trust from institutional investors too. Long target for ETH will be reach $3,000 mark very soon
Greyscale is still Bullish on BTC, ETH, BCH and many other cryptocurrencies
— The City Telegraph (@city_telegraph) February 5, 2021
Ethereum Price Remains Steady
After setting a new all-time high near $1,697, Ethereum started a short-term downside correction. ETH traded below the $1,650 and $1,620 support levels. There was also a spike below the $1,600 level, but the price recovered quickly.
Ether is now trading well above $1,600 and the 100 hourly simple moving average. The recent swing low was formed near $1,589 before the price climbed above $1,620.
There was a break above the 50% Fib retracement level of the recent decline from the $1,672 high to $1,589 low. It seems like there is a key contracting triangle forming with resistance near $1,655 on the hourly chart of ETH/USD.