As Long as Ethereum Holds $350 Range, It’s Set to Double: Analyst


Ethereum has undergone a strong drop since the August highs of $490. The coin currently trades for $380, far below the aforementioned highs. Despite the strong correction, analysts are optimistic that the long-term trend remains bullish. One crypto-asset analyst noted that as long as Ethereum holds the $350 region, it could move towards $700 in the long term. The chart suggests that the prices in the vicinity of $350 are of macro importance. Namely, in the middle of 2018, the leading cryptocurrency reached those lows, then bounced. And in 2017, $350 acted as a launching point for the bull trend that brought it to $1,400. Ethereum Must Hold Current Range to Remain Macro Bullish If Ethereum holds prices around $350 as support on a macro time frame, Ethereum is set to explode higher towards $700 over time, analysts say. One crypto-asset trader recently shared the chart below. It shows that…

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