RATE Group | Math Shows That 2020 Could Be a Great Year for Ethereum Bulls; Here’s Why
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Math Shows That 2020 Could Be a Great Year for Ethereum Bulls; Here’s Why

26 Dec Math Shows That 2020 Could Be a Great Year for Ethereum Bulls; Here’s Why

Posted at 22:18h in Cryptocurrency News by

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Ethereum’s price action has been fully exposed to Bitcoin’s recent bearishness over the past several days and weeks, struggling to garner any independent upwards momentum. This price action has led ETH to remain stuck beneath $130, which appears to have become a resistance level for the cryptocurrency.

In spite of its overt bearishness, one analyst is noting that math-based technical analysis points to the possibility that ETH will soon see significant upwards momentum, as his chart signals that the Ethereum bear market actually ended in September of this year. This means that 2020 could mark the start of its next bull run.

Bears Remains in Firm Control of Ethereum as Investor Sentiment Degrades

At the time of writing, Ethereum is trading up 1% at its current price of $127, which marks a slight climb from its daily lows of $124.

Over a one-week period, ETH has been facing heightened bearishness, as the cryptocurrency surged as high as $136 this past weekend before incurring a…

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