Ethereum: Swift Rally to $290 Still in the Cards Despite Recent Breakdown

Ethereum’s price has been hovering around the lower $190 region in the time following its latest selloff that sent it to lows of $180. The second-largest cryptocurrency by market cap has been severely underperforming Bitcoin in recent times and has virtually erased all of the gains that came about as the result of its recent push to highs of $230. This decline also led the crypto to break below a massive ascending wedge pattern that it was previously caught above, and it now appears to be entering a flag pattern as it consolidates. In spite of this overt bearishness, it is important to note that the cryptocurrency could still see a parabolic push to highs of $290 in the weeks ahead. There are a few key levels bulls must surmount in order for this possibility to come to fruition. Read More...

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