RATE Group | An Insane Rally is Imminent
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An Insane Rally is Imminent

01 Jan An Insane Rally is Imminent

Posted at 00:23h in Bitcoin News by

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After reclaiming the $130 level earlier this past week, Ethereum (ETH) is currently struggling to hold above this level as bears attempt to take full control of the aggregated cryptocurrency markets.

It is important to note that ETH’s current bearishness could cut deeper in the near-term, but analysts are noting that the cryptocurrency’s current price action looks strikingly similar to that seen by Bitcoin when it was trading within the lower-$3,000 region in late-2018 and early-2019.

If this similarity is valid, Ethereum could be on the verge of incurring a significant amount of upwards momentum that potentially leads the crypto into a multi-month bull market throughout the early part of 2020.

Ethereum’s Bulls Struggle to Hold ETH Above $130 as Selling Pressure Ramps Up 

At the time of writing, Ethereum is trading down marginally at its current price of $131, which marks a notable decline from its multi-day highs of over $137 that were set this past weekend.

It is important to…

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