Bitcoin and Ether Indicators Support Near-Term Relief Rally

Price charts for bitcoin and ether might be turning bullish after a month of market stagnation, potentially offering respite in the coming weeks, a new analysis shows.

Ether, the native token of Ethereum’s blockchain, could also benefit from a shift in the price-chart indicators.

“The daily and weekly stochastics have turned up, supporting a near-term relief rally and test of initial resistance near $3,000,” Stockton said.

The second-largest cryptocurrency has faced multiple rejections in the range of $2,800-$3,000 since late May.

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