RATE Group | Analyst Expects Ethereum Price to Burst 26.5% Higher: Here’s Why
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Analyst Expects Ethereum Price to Burst 26.5% Higher: Here’s Why

12 Jan Analyst Expects Ethereum Price to Burst 26.5% Higher: Here’s Why

Posted at 08:04h in Cryptocurrency News by

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Take one look at Bitcoin’s chart and you would assume that Ethereum, XRP, and all the rest have had a great 2019 too, but you would be sorely mistaken in saying that.  The second-largest cryptocurrency saw a negative performance last year, which came in stark contrast to Bitcoin’s 95% year-to-date gains.

Despite this, analysts are starting to get bullish on ETH once again, citing a number of technical factors.

Ethereum Ready to Break Higher, Prominent Analyst Suggests

Dave the Wave, a prominent cryptocurrency trader, recently noted that the chart of Ethereum against the U.S. dollar is forming a possible ascending triangle “forming here for a breakout,” drawing attention to the below chart to illustrate his point, which shows ETH’s recent rally in correlation with Bitcoin. 

With the triangle’s height being 26%, a breakout above the triangle baseline, which sits at $150 or so, will likely mean that the cryptocurrency will surge towards…

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