Through the last week and Consensus 2018 conference, the prices of the top coins by market cap did not change too much. As a result of the conference, expectations were high, but this year the Consensus 2018 just strengthened the Ethereum and bitcoin price, along with the majority of the other cryptocurrencies.
Whole last week the bitcoin price was moving from $8,900 to $8,000 with massive sales and buys, but the bearish line was stronger and in Sunday the price had to get stronger and start the upward movement from $8,000.
Now the support level of $8,000 seems very strong and the bullish signals are showing an uptrend. The psychological level of $10,000 may be passed easily this time and the price will have another strong support level at $11,500.
Here’s how the breakdown of the local trend line looks on the four-hour chart.
All the top 10 cryptocurrencies are copying this chart right now so another bull run through this week is possible. If the price does not pass the $10,000 mark there is high possibility for the bearish trend to win the war and drop the price below $8,000.
The second by the capitalization of the cryptocurrency formed a pullback after the first wave of growth. There was a new accumulation of volumes and now the coin is ready to develop success together with bitcoin.
A new target for ETHEREUM is $1,000.