Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Aeternity: Price Jumped 23% In 24 Hours

Published 01/17/2019, 12:03 AM
Updated 07/09/2023, 06:31 AM

AE/BTC Technical Analysis

Aeternity’s token, AE, spent the last month hanging around its all-time low level. However, as Ethereum struggled to make any gains in the past couple of days, the trading crowd appear to have flocked to this wanna-be Ethereum token. This helped its price jump 23% in 24 hours.

Looking at the AE/BTC daily chart, the pair has even tested the upper band of the daily Ichimoku Cloud, an indicator we use to get a better understanding of the price action.

Aeternity- AE/BTC Ichimoku Analysis Technicals

Aeternity- AE/BTC Ichimoku Analysis

With this, if AE is able to break above the cloud, it might generate enough bullish momentum to reach the next resistance level at 23% Fibonacci level which traces the downtrend that started back in June 2018.

Do you think AE has what it takes to replace Ethereum? At what price point would you buy AE, and will you consider holding it long-term?

Original Post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.