RATE Group | It’s “Decision Time” for Ethereum, and Analysts Bet ETH Surges to the Upside
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It’s “Decision Time” for Ethereum, and Analysts Bet ETH Surges to the Upside

31 May It’s “Decision Time” for Ethereum, and Analysts Bet ETH Surges to the Upside

Posted at 03:45h in Cryptocurrency News by

It’s been an explosive past few days for Ethereum.

In the past 24 hours alone, the second-largest cryptocurrency is up 10%. As reported by NewsBTC previously, the asset is currently pushing $244, the highest price since early March.

This surge is important as it comes at a critical time for cryptocurrency bulls. One prominent trader shared the ETH/BTC chart seen below a few days ago, writing that it’s “decision time” for Ethereum.

The chart indicates that ETH is soon about to see a massive breakout past a crucial downtrend that has held for nearly three years and past a key relative strength index level. In rallying today by 10%, outpacing Bitcoin, Ethereum may be set to rally even higher in the coming weeks.

Chart of ETH/BTC macro performance from crypto trader FatihSK (@FatihSK87)

Chart of ETH/BTC macro performance from crypto trader FatihSK (@FatihSK87)

Related Reading: Crypto Tidbits: Bitcoin Nears $10k, Goldman Sachs Talks Cryptocurrency, Chinese Yuan Slumps

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