RATE Group | Gigantic Ethereum Buy Wall May Be Enough to Spark a Parabolic Rally
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Gigantic Ethereum Buy Wall May Be Enough to Spark a Parabolic Rally

13 Jan Gigantic Ethereum Buy Wall May Be Enough to Spark a Parabolic Rally

Posted at 02:48h in Ethereum News by

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Ethereum has been closely tracking Bitcoin’s volatile price action as of late, which head led ETH to gain a firm position within the $140 region. The cryptocurrency’s bulls have shown signs of growing vitality over the past several days, which comes as the altcoin market begins flashing hints of having immensely bullish near-term potential.

It is important to note that Ethereum’s bulls have now created an unprecedented buy wall on a major exchange, signaling that bears would have to incur massive strength in order to push the crypto down from its current price levels.

This massive buy wall may be one factor that helps ETH spark a parabolic rally, as one analyst is noting that the crypto could soon target a move to $180, with a break above this level potentially leading it as high as $280.

Ethereum’s Bulls Build Massive Buy Wall as ETH’s Price Action Grows Bullish 

At the time of writing, Ethereum is trading up marginally at its current price of $145, which marks only a minor…

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