The Simple Reasons Why Ethereum Could Soon Explode to its $250 Local Highs
This price action does indicate that sellers don’t want Ethereum to recapture its long-held trading range. One analyst is now explaining that he remains bullish on Ethereum in the near-term, primarily due to its ability to hold above $210 for an extended period.
Chart via TradingView.Bullish ETH Narratives Beginning to Take Shape Luke Martin, a respected analyst and the host of the Coinist Podcast, explained that “in some ways” bullish Ethereum narratives are beginning to influence its price action. “ETH outperformance started in May when very few altcoins were doing well… clear divergence between ETH and other large caps like XRP, LTC, EOS…etc…” Bullish Ethereum narratives are primarily premised upon the imminent launch of ETH 2.0 and the booming growth in the DeFi sector.
