Analyst: Ethereum is Poised to Rally Past $430 Despite Consolidation

Ek Yc4wWAAE5pEX 980x455

Ethereum has been showing tremendous signs of strength as it begins moving in lockstep with Bitcoin Despite seeing a selloff on the first day that Bitcoin started rallying, ETH quickly reshaped its previously close correlation with BTC and began surging This surge led its price all the way up to highs of $420 yesterday, which is where it found some slight resistance One analyst believes that this resistance will be swiftly surmounted in the near-term He notes that it may dip towards a liquidity and untested support level first and then rally past $430 Bitcoin, Ethereum, and the aggregated cryptocurrency market have seen some intense bullish price action throughout the past few days. Initially, when Bitcoin began its ascent after breaking above $12,000, some investors feared that BTC would enter a phase in which it rallies and leaves altcoins behind. Although this trend lasted for a day, the next day,…

Read the original article here