Ethereum (ETH) surged today after the aggregated altcoin market responded bullishly to Bitcoin’s period of consolidation in the mid-$10,000 region. This upwards momentum has sent it up towards $185, which has previously been a strong level of support for the cryptocurrency.
Now analysts are noting that Ethereum’s network is expressing significant strength, which may be a positive sign for the cryptocurrency’s near-term price action.
Ethereum Surges Towards $185
At the time of writing, Ethereum is trading up over 3% at its current price of $185, which marks a significant recovery from its recent lows of roughly $170 that were set earlier this month.
ETH has consistently found support around this price level over the past several days and weeks, and its ability to surge today may point to some underlying bullishness that could be significantly extended in the coming days and weeks. Source...