RATE Group | This Single Factor Suggests Ethereum‘s Uptrend is About to Turn Parabolic
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This Single Factor Suggests Ethereum‘s Uptrend is About to Turn Parabolic

02 Feb This Single Factor Suggests Ethereum‘s Uptrend is About to Turn Parabolic

Posted at 21:31h in Ethereum News by

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Ethereum’s firm 2020 uptrend appears to be shifting its market structure to be overwhelmingly bullish, as ETH has been able to significantly outperform Bitcoin and the aggregated crypto markets over the past 24-hours.

In the near-term, analysts do believe that today’s breakout rally marks a pivoting point for the cryptocurrency, which could allow it to start a massive rally that potentially leads it to climb to fresh multi-year highs.

In order for this possibility to be validated, however, there is a key level that the cryptocurrency needs to decisively break above.

Ethereum Breaks Into $190 Region as Analysts Eye a Move to $200

At the time of writing, Ethereum is trading up just under 6% at its current price of $192, which marks a notable climb from its daily lows of $180 that were set yesterday when the entire market drifted lower due to BTC’s drop to $9,200.

It is important to note that Ethereum’s 2020 uptrend has not been parabolic as of yet but has rather marked a slow and…

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