RATE Group | This Indicator Signals the Ethereum Bear Market is Over, But Will an Insane Rally Follow…
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This Indicator Signals the Ethereum Bear Market is Over, But Will an Insane Rally Follow…

30 Dec This Indicator Signals the Ethereum Bear Market is Over, But Will an Insane Rally Follow…

Posted at 23:30h in Ethereum News by

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Despite the lackluster price action seen by Bitcoin over the past several days, Ethereum (ETH) has been able to climb back above its previous resistance level at $130 and find some decent buying pressure at this price region, which has come about after an extended period of trading sideways just above its key support level at $125.

Analysts are now noting that the Ethereum bear market could be firmly in the past, although this may not mean that a massive rally is imminent.

Ethereum’s Bear Market is Over, According to This Indicator

At the time of writing, Ethereum is trading down just over 1% at its current price of $132, which marks a slight decline from its daily highs of $137 that were set at the peak of yesterday’s rally.

This rally came about concurrently with the one seen by Bitcoin, which led BTC as high as $7,500 before it met significant resistance that led it to retrace nearly all of its gains.

Ethereum has been able to find better support amongst its buyers than Bitcoin…

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