Here’s Why Ethereum’s Consolidation Could Result in an Explosive Move to $480

Its sustained bout of trading below this range is a grim sign, but analysts are noting that the crypto has remained above a couple of crucial technical levels. The reason why $230 is a crucial level is due to it being the lower boundary of a trading range that has been formed over the past two months.

Chart via TradingView.ETH Holds Above 2 Crucial Technical Levels; Opening the Gates for Massive Upside  Another analyst offered a similar price target for Ethereum, noting it could soon rally towards $480. Chart via TradingView.Unless the aggregated market nosedives in the near-term, it is probable that Ethereum will continue trading above these crucial levels.

Timeline of Ethereum