Recovery in the overall market causes Ethereum, Iota and Ripple to rise

After the last weak weeks, the three altcoins Ethereum (ETH), Ripple (XRP) and IOTA (MIOTA) can recover significantly and thus follow the key currency Bitcoin (BTC).

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In the last price analysis 14 days ago, Crypto Code and Co. showed a bearish price development. Bitcoin’s outbreak last week also caused significant price rallies on the market as a whole and caused the Ether price to rise significantly. Ethereum is currently only trading near $ 400 and could therefore try to rise again towards the annual high of $ 488 in the coming days.

Bullish variant (Ethereum)

The ether price has recovered significantly in the last seven days and, based on the support area, increased by around 20 percent in value by 332 US dollars. The moving average of the last 100 days (EMA100) (yellow) acted as strong price support. As a result, the ether price rose back above the EMA20 (red) and was also able to overcome the supertrend in the daily chart on October 12th. The chart has thus brightened significantly in favor of the bulls.

If the bulls manage to lift the ether price above the high of 396 US dollars at the daily closing price, a direct rise to 409 US dollars is likely. If Ethereum can also overcome this resist, the chances of a direct march through the Ether course in the direction of 440 US dollars increase.

If this central resistance level is subsequently broken through, a bullish follow-up movement up to the annual high of 488 US dollars is conceivable. Only when investors manage to dynamically overcome this strong resist is it likely to rise to $ 515. However, if the overall market continues to trend bullish and Bitcoin clearly leaves $ 12,000 behind, the Ether price could target the higher-level Fibonacci retracement at $ 549 as the maximum price target.