Crypto Whale Martin Gerraux Predicts Ethereum Price Surge on April 24th
NEW YORK, April 24, 2019 /PRNewswire-PRWeb/ -- In his detailed analysis, Expert Trader Martin Gerraux is pointing his focus to Ethereum's 'Golden Cross Formation'. The Golden Cross is a technical indicator that takes place when the 50-day EMA crosses above the 200-day EMA.
Gerraux, a modern Crypto wizard of price prediction theory and former stock analyst is predicting that a Golden Crossover will take place at some time between April 30th and May 5, 2019. Gerraux makes it very clear that traders should be following EMAs as opposed to SMAs (simple moving averages), because historically cryptocurrency follows the Exponential Moving Average versus the SMA.
We reached out to Gerraux's publicist who put us on the phone with him while he was basking in the sun in St. John USVI, enjoying the rewards of his original $7 Bitcoins.
Gerraux stated, "On one side you've got a guy saying the crypto crash is imminent by using an elliot wave chart and then you have another 'expert' screaming that the crypto winter is not over. Look - one simply cannot create Cryptocurrency charts and predict prices based on stock charting techniques. Crypto is not an iPhone. It's not a damn fidget spinner.The price of a crypto asset is not dependent on a Q1 earnings release. The price is based on Patterns, EMA's, volume and mainstream adoption. It never ceases to amaze me the number of idiots we have creating crypto charts online, because the majority of them have absolutely no clue what they are doing, absolutely no freaking clue!"
Will Ethereum (ETH) Blast Off On April 24th?
Even though Martin Gerraux has predicted that the Golden Crossover event will occur after April 24th, the initial surge could still take place on this date. In the charting world, a Golden Crossover event is technically known as a latency indicator. This means that upwards price movement will occur on a large scale before the Golden Crossover event occurs on the actual chart.
According to Gerraux, a push through the current $180 resistance level and movement above the 200 day MA, will allow Ethereum to push through $200 and continue upwards, resulting in a price surge.
To support Gerraux's bold prediction, we have put together our own analysis which highlights the current markers of support and resistance for ETH/USD currently.
Our Current Ethereum Analysis
Ethereum has witnessed a small 1.54% price increase over the past 24 hours, as the market now trades ETH at a price of $171 USD per coin. Additionally, ETH has experienced a 25% price increase over the past 30 days, and a 44% increase over the past 3 Months (90 Days).
Ethereum is currently ranked as #2 on CoinMarketCap, as the almost 2 year old cryptocurrency currently has an $18.17 billion market cap.
When taking a closer look at the current ETH/USD chart, it is noted that the crypto asset busted through a long symmetrical triangle formation at the start of April 2019, right around when Bitcoin surged upwards on April 2nd due to a 100 million dollar buy order spread across multiple exchanges and executed concurrently.
Ethereum continued to climb higher above resistance at a .618 Fibonacci Retracement level, priced at $170, and into resistance at a 1.272 Fibonacci extension level, priced at $185, before pulling back to stabilization at the current price.
Ethereum (ETH/USD) is currently trading above the support line at $170 and remains steady, waiting for the next push upwards.
If Martin Gerraux's April 24 Ethereum prediction is spot on, we can expect a price surge over the coming days ahead. If he is correct, we can expect resistance to make a move to the $185 Level. Above $185, a higher resistance point will then be expected at the .786 Fibonacci Retracement level, priced at $194, which at that point, the Ethereum Bulls can push it through the $200 level.
If the bulls can continue to push further above the $200 level, we can expect higher resistance to be located at the bearish .886 Fibonacci Retracement level (drawn in blue), priced at $208. The current RSI is fighting hard to stay above the 50 level as the Ethereum bulls are battling for control of the market. If the RSI can stay above 50, we can expect the possibility of a massive bull rally to occur.
With Ethereum's historical all time high (ATH) of $1,420 and if Martin Gerraux is correct, Ethereum could set new records and our friend Martin Gerraux (who many refer to as the Nostradamus of Crypto) would once again be noted in the history books as the man who can predict the future.
SOURCE Martin Gerraux
