Ethereum Could See 16% Jump as Bottom Forms, Fundamentals Strong
www.newsbtc.com
As Bitcoin has stalled, so too has the second-largest cryptocurrency, Ethereum (ETH). Despite the strong downtrend ETH has formed, a prominent trader suggests that Ethereum may end the year on a high note, citing technical trends that imply a Santa Claus rally is entirely plausible.
According to Michael van de Poppe, a CoinTelegraph contributor and a prominent cryptocurrency trader, Ethereum may be preparing to make a run to $175 according to “very basic technical analysis.” On Nov. 14, popular cryptocurrency trader “Salsa” remarked that Bitcoin’s one-day chart “doesn’t look pretty,” drawing attention to the fact that BTC has turned the $7,300 support into resistance, a support-resistance flip that implies bears remain well in control.
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