RATE Group | History Signals That Ethereum May Have Just Posted a Long-Term Bottom
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History Signals That Ethereum May Have Just Posted a Long-Term Bottom

19 Dec History Signals That Ethereum May Have Just Posted a Long-Term Bottom

Posted at 01:58h in Ethereum News by

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Ethereum’s price action has been closely mirroring that of Bitcoin’s in recent times, which led ETH to drop as low as $120 this morning before posting a massive surge back up to the $130 region.

ETH’s strong reaction to the $120 level confirms that this is a strong support region for the cryptocurrency and may even signal that these lows will mark a long-term bottom for Ethereum – a possibility that appears to be confirmed by history.

Analysts Agree: Ethereum’s Recent Lows Could Mark a Long-Term Bottom

At the time of writing, Ethereum is trading up over 4% at its current price of $130, which marks a massive climb from its daily lows of $120 that were set earlier this morning concurrently with the capitulatory drop incurred by Bitcoin and most other major altcoins.

This morning’s rapid downturn marked a significant extension of the downwards momentum that the markets had been facing over the past few days, which was sparked by Bitcoin’s…

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