RATE Group | Traders Believe Ethereum is About to Make a Massive Move; Will It Favor Longs?
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Traders Believe Ethereum is About to Make a Massive Move; Will It Favor Longs?

25 May Traders Believe Ethereum is About to Make a Massive Move; Will It Favor Longs?

Posted at 06:59h in Cryptocurrency News by

Ethereum has continued trading above $200 despite facing a massive influx of selling pressure earlier this morning that jeopardized its position above this key support level.

It now appears that ETH is gearing up for a massive movement in the days and weeks ahead as it continues trading within a multi-week range.

Analysts are noting that there are three factors that suggest its price is about to snap this long-held bout of consolidation and spark a massive movement.

As for which direction this potentially imminent bout of volatility could lead the cryptocurrency, one trader believes that it will favor buyers.

Three Factors Suggest Ethereum is About to See Some Massive Volatility

At the time of writing, Ethereum is trading down just over 1% at its current price of $204, marking a climb from daily lows of around $200 that were set during a sharp early morning decline.

This price action has been largely driven by that seen by Bitcoin, as the benchmark cryptocurrency has been struggling to…

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