Analysts Still Expect Ethereum Rally to $500 Despite $40 Flash Drop

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Analysts think that Ethereum is primed to press higher despite last night’s $40 drop. One analyst noted that Ethereum remains in an extremely advantageous position on a macro time frame. He shared a chart showing that ETH is currently sitting above macro supports, meaning it has room to stretch toward $800 and beyond as it continues to hold those technical levels. Ethereum Could Move Toward $500 Analysts think that Ethereum is primed to press higher despite last night’s $40 drop, which took place in the span of two minutes. One crypto-asset trader noted that even after the drop yesterday, Ethereum remains in an extremely advantageous position on a macro time frame. As the chart shows, ETH is currently sitting above macro supports, meaning it has room to stretch toward $800 and beyond as it continues to hold those technical levels. “Has not even started its parabolic run like BTC yet,…

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