RATE Group | Ethereum: USD/ETH (ETH=) Subject To A Bullish Breakout
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Ethereum: USD/ETH (ETH=) Subject To A Bullish Breakout

27 Jan Ethereum: USD/ETH (ETH=) Subject To A Bullish Breakout

Posted at 10:25h in Ethereum News by

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Ethereum: USD/ETH (ETH=) Subject To A Bullish Breakout

The Ethereum bulls have been forced to give up momentum over the last trading week, following a straight run higher of some four weeks. ETH/USD rallied over 47% from $122 up to the recent highs of $180. The price was able to hit the highest seen since 18 November. It was the most consecutive run higher since April-May 2019.

ETH/USD was able to produce a bottom out at the back-end of 2019, down the lowest levels since February 2019. Since hitting these lows, a foundation has been laid for a more significant recovery. It has been proven over the past few weeks. It comes following the heavy beating incurred in the second half of 2019, falling from heights of $363.

Bulls To Break Critical Bearish Structure

The price, as detailed above, was within the firm control of the bears from June – December 2019. The market structure was very much bearish, with any rallies being sold and proving at the time to be vulnerable and…

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