Ethereum has been one of the best performing major cryptocurrencies throughout 2020, with ETH posting a massive rally that sent it from yearly lows of $120 to highs of just under $230.
This intense uptrend has allowed the crypto to form a highly bullish market structure, and its ability to hold above $225 over the past couple of days seems to suggest that ETH is about to see significantly further momentum.
One analyst is noting that this momentum may extend until Ethereum hits its next key resistance level at $360, with a rise to this level marking a 60% rally from its current price levels.
Ethereum Holds Above Key Support as Market Structure Grows Bullish
At the time of writing, Ethereum is trading up just under 2% at its current price of $228, which marks a notable climb from its daily lows of $222.
While looking at ETH’s weekly price action, it becomes crystal clear as to just how bullish the cryptocurrency is, as it has been able to rally from lows of $185 to highs of $230. Read More...