RATE Group | The Last Time Ethereum Saw Exchange Balances This High It Rallied 4,600%
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The Last Time Ethereum Saw Exchange Balances This High It Rallied 4,600%

04 Apr The Last Time Ethereum Saw Exchange Balances This High It Rallied 4,600%

Posted at 22:48h in Ethereum News by

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Ethereum has been caught within a tempered uptrend in the time following its recent rally from sub-$100 lows, with the cryptocurrency forming a very strong correlation to Bitcoin – which has been firmly guiding the markets throughout the past several months.

It now appears that one fundamental metric is flashing a highly bullish sign for Ethereum, as exchanges’ ETH balance is currently at levels not seen since December of 2016, with this metric having an inverse correlation with future price trends.

This may suggest that ETH is on the brink of seeing a breakout rally, and if history rhymes, it could be significant.

Ethereum Sees Bout of Sideways Trading as Crypto Bulls and Bears Reach an Impasse

Ethereum is currently caught within a somewhat large trading range between $125 and $145, as these are the two levels at which the cryptocurrency has been caught between throughout the past couple of months.

This range-bound trading has come about in tandem with that seen by Bitcoin, which…

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