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ETH has just broken an important resistance level on an impending rally

Discussion in 'General Discussion' started by jane madison, Feb 15, 2020 at 2:36 AM.

  1. jane madison

    jane madison Contributor

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    ETH has seen some crazy price action in the past few days, the recovery has quickly shifted to parabolic state as the bulls seek to push the cryptocurrency beyond $ 300.

    This intense rebound has allowed the cryptocurrency to surpass the key resistance level that had previously caused its price action to stall, suggesting that it is likely to increase further before facing. any strong resistance.

    Moreover, this demonstration coincided with a rapid rise in the underlying strength of ETH, as evidenced by the number of transactions and its operational address.

    ETH breaks important BTC resistance while the bulls maintain their momentum
    At the time of writing, Ethereum is trading up close to 5% at its current price of $ 282, marking a jump from the daily low of nearly $ 260 that was set yesterday when the bears tried. trying to spark a sell-off.

    The importance of ETH's recent bull run is evident in its price action throughout February, as the coin was able to rise more than 100% from a low of $ 180.

    This has allowed ETH to significantly outperform both Bitcoin and the market as a whole, making it one of the top major altcoins throughout 2020, along with Tezos and several other tokens.

    ETH's BTC trading pair is currently trading around 5% up to the current price of 0.0274 and Jacob Canfield - a well known analyst - recently explained that it is likely to rise to 0.036 before Find key resistance.

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  2. Eliza Abrams

    Eliza Abrams Scholar

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    Thank you for the detailed analysis.
     

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