{"id":415737,"date":"2020-02-24T00:22:59","date_gmt":"2020-02-24T00:22:59","guid":{"rendered":"https:\/\/wncen.com\/?p=415737"},"modified":"2020-02-24T00:22:59","modified_gmt":"2020-02-24T00:22:59","slug":"heres-why-analysts-are-over-moon-after-ethereum-surge-275","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/heres-why-analysts-are-over-moon-after-ethereum-surge-275\/","title":{"rendered":"Ethereum’s Weekly Close Above $275 Has Analysts Over the Moon"},"content":{"rendered":"

As Bitcoin has shot higher in the past few hours, so too has Ethereum. The market leader tapping $10,000<\/a> was accompanied by ETH passing $275, reaching as high as $278 just minutes ago.<\/p>\n

While this sudden jump higher, which comes after the altcoin flatlined around $270 for most of Sunday, has yet to be sustained, analysts are saying the cryptocurrency is cleared to register even greater games in the coming days for a confluence of reasons.<\/p>\n

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Ethereum Technical Outlook Is Extremely Bullish, Analysts Say<\/strong><\/h2>\n

Earlier today, NewsBTC reported on an analysis of the one-week ETH chart by Teddy, a popular trader.\u00a0<\/a><\/p>\n

In the pertinent analysis<\/a>, the commentator wrote that Ethereum’s weekly candle closing above $275 \u2014 a level which has acted as short-term resistance and support over the past two weeks or so \u2014 will make the asset “beyond bullish”:<\/p>\n

\u201cETH: Weekly close above 275 beyond bullish. Anything below I see it as a rejection from a key resistance.”<\/p><\/blockquote>\n

https:\/\/twitter.com\/TeddyCleps\/status\/43105794<\/p>\n

Just minutes ago, the asset closed above this level ($276, to be exact), marking a higher high. Teddy did not allude to what he expects for the cryptocurrency to do after it makes a close above this level, though other analysts are expecting more upside.<\/p>\n

From an extremely short-term perspective, analyst Cactus published<\/a> the below chart and an accompanying message. In that message, the trader wrote that a weekly close above $267 is extremely positive, adding that such a close is likely to send Ethereum towards $290 in the coming days.<\/p>\n

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Indeed, RookieXBT recently remarked that Ethereum’s six-hour chart is showing a number of positive signs:\u00a0<\/a><\/p>\n