Big brother awakening! Ethercoin broke through 3600 to hit a recent high, is this coin also ready for big pump 35%?

Ethercoin once broke through 3,600, aiming for $4,000?

Since the end of May, Ethercoin (ETH/BTC) has been continuously declining, indicating that Ethercoin has underperformed compared to BTC. However, there have been signs of a reversal recently, and Ethercoin ($ETH) also reached a high of $3,600 this morning (28th), the highest since July. As of the time of writing, the price is $3,580, with a daily increase of 6.67%.

BeInCrypto analyst Victor Olanrewaju pointed out that Ethercoin is brewing the potential for the next bullish trend.

Ethercoin ($ETH) price trend analysis

Olanrewaju pointed out that EthercoinMarket Cap and realized value ratio (MVRV) are key indicators for assessing potential trends.

Currently, the Ethercoin 30-day MVRV has climbed to 11.89%, but it is still far from the phase top level of 18%-22%, indicating that there may still be room for further increases in the future.

Image source: BeInCrypto Ethercoin ($ETH) Market Cap/Realized Value Ratio (MVRV)

Another indicator worth following is the average dollar investment coin age (MDIA). According to analysis, the MDIA of Ethercoin is currently decreasing, indicating that previously dormant $ETH is becoming active again, suggesting an increase in trading activity.

Image source: BeInCrypto Average Dollar Investment Coin Age (MDIA) of Ethercoin ($ETH)

From a technical perspective, the Ethercoin daily candlestick has formed an inverse head and shoulders pattern bullish pattern. This pattern typically appears after a long-term downtrend, indicating a potential exhaustion of selling pressure and an upcoming reversal.

Olanrewaju predicts that if the head and shoulders bottom pattern continues to break upwards, Ethercoin is expected to surge to $4,000 in the short term; but if selling pressure increases, it may pull back to $3,206.

Image Source: BeInCryptoEthercoin ($ETH) Price Trend Analysis

In addition to Ethercoin, Uniswap ($UNI) is also expected to have a big pump of 30%?

In the Ethereum ecosystem, another popular token is Uniswap ($UNI) that is widely followed.

Analyst Tiago Amaral of "BeInCrypto" pointed out that $UNI accumulated a big pump of about 15% in the past 24 hours, demonstrating strong upward momentum.

Uniswap ($UNI) price trend analysis

Amaral pointed out that the relative strength index (RSI) of $UNI has quickly climbed from 50 to 67, approaching but not yet entering the Overbought zone, indicating that there may be further room for an increase.

Image source: BeInCrypto Uniswap ($UNI) Relative Strength Index (RSI)

The Bollinger Band Trend Indicator (BBTrend) also reveals a positive signal. As of now, the BBTrend for $UNI is 16.5, and has remained positive since November 24, indicating that it is still in an upward trend.

It is worth noting that the index has fallen slightly compared to yesterday's 18, which may indicate a slight slowdown in the upward momentum.

Image source: BeInCryptoUniswap ($UNI) Bollinger Band Trend Indicator (BBTrend)

Amaral predicts that if the upward trend continues, $UNI is likely to challenge the resistance levels of $13.3 and $14.8. If it successfully breaks through the resistance levels, it may even rise to $17, setting a new high since March this year. Compared to the current price of $12.554, it is equivalent to a further rise of 35%.

However, investors cannot ignore the pullback risk. If the $UNI fails to hold the support level of $10.423, it may quickly fall back to $8.59, with a decline of up to 31%.

Image Source: BeInCryptoUniswap ($UNI) Price Trend Analysis

【Disclaimer】There are risks in the market, and investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their specific situation. Investing based on this is at your own risk.

'Ergo woke up! Ethercoin breaks through 3600 to create a recent new high, is this coin also ready for a big pump of 35%?' This article was first published in 'encryption city'.