RATE Group | Ether Price Breaks Key Resistance — Can It Repeat Bitcoin’s 42% Gain?
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Ether Price Breaks Key Resistance — Can It Repeat Bitcoin’s 42% Gain?

07 Nov Ether Price Breaks Key Resistance — Can It Repeat Bitcoin’s 42% Gain?

Posted at 10:36h in Bitcoin News by

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Over the past week Ether (ETH) has shown that it is not permanently hinged to Bitcoin’s (BTC) price action and notably, a number of altcoins are also beginning to forge their own paths higher. 

 

Ethereum breaks through key resistance

Close analysis of the ETH/USD and ETH/BTC chart shows rumblings of a bullish breakout, but there are still significant challenges ahead before this can occur. 

Bitcoin

Crypto market data daily view. Source: Coin360

As shown on the daily chart, Ether continues to put space between itself and the multi-month descending triangle that the altcoin broke out of on Oct. 25. The digital asset has continued to notch daily higher lows and the most recent run to $194.60 almost set a higher high above the Oct. 25 local high at $199.77. 

ETHUSD

ETH/USD daily chart. Source: TradingView

As mentioned in the previous analysis, Ether needed to clear the resistance zone at $184 to $186 in order to take a shot at $194, a point reached early in the…

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