Ethereum is “Ready to Explode” Despite Nearing a Key Resistance Level
Analysts are now noting that the crypto could be positioned to see an explosive movement past this resistance, with a clean break above potentially allowing it to see some significant upside. This latest rally has also pushed ETH up towards its resistance around $140, and George – a popular crypto trader – explained that he believes the cryptocurrency is positioned to see an explosive movement past this resistance.
While looking at the above chart, it does appear that Ethereum is caught within a large trading range between $125 and $145, and which of these levels breaks first should offer analysts with significant insight into which direction it will trend in the mid-term. As for how high an upside break could lead Ethereum, Josh Olszewicz – a popular crypto analyst – recently noted that he is closely watching ETH’s descending volume and Bollinger Bands for insight into its technical strength.
ETH |
$ 3569.74
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