Analysts Eye Potentially Major Upside for Ethereum and Other Altcoins

Bitcoin’s recent bout of consolidation has led to mixed performance amongst most major altcoins, with XRP surging today while Ethereum and EOS have both posted tempered gains.

Analysts are now eyeing potential upside amongst most major cryptocurrencies, with one prominent analyst noting that both Ethereum and EOS are close to breaking above their weekly resistance lines, which could mean that significantly further gains are inbound.

Ethereum and EOS May Both be Positioned for Further Gains Amidst Bitcoin Consolidation

Bitcoin has been caught within a relatively tight trading range between $7,800 and $8,800 for the past several weeks, and it has failed to garner enough buying or selling pressure to spark any type of mid-term trend.

This period of consolidation has not proven to be negative for most major altcoins, however, as XRP has posted an over 4% gain today, while Ethereum and EOS have both climbed just under 2%. Read More...