RATE Group | Ethereum at a Major Crossroads
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Ethereum at a Major Crossroads

29 Jan Ethereum at a Major Crossroads

Posted at 19:34h in Ethereum News by

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Chris Lewis

Ethereum price index

  • Ethereum sitting at major resistance
  • Recent breakout
  • Use Bitcoin as a secondary indicator

Ethereum has gotten lost in the shuffle when it comes to cryptocurrency markets recently, mainly because a lot of the attention is being paid to Bitcoin as per usual. Having said that, it is lagging slightly in reaction to Bitcoin compared to usual, but it is starting to approach a very interesting technical area. Because of this, there should be a bit of a “catch-up trade” happening in this market.

The Ethereum chart

ETH/USD 6 monthly chartThe technical analysis for Ethereum right now is very interesting considering that the market is pressing up against the $175 level. That is an area that has been massive support and resistance in the past, and is a fulcrum for price. Furthermore, the market has just broken above the 200-day EMA, an area that causes significant resistance. With that being the case, the question now is whether or not it can continue the upward momentum?

the question now is…

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