Ethereum Breaks Out of Bullish Triangle as CME Futures Listing Boosts Price

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Ethereum saw a massive rally today that has allowed its price to firmly break above $600, which has long been a resistance level Following the break above this resistance, the cryptocurrency rallied as high as $630 before its rally got overextended and resulted in it retracing down towards $615 It is recovering from this pullback, but the price just above where it is currently trading at may persist as a strong resistance level in the short-term Because ETH is largely correlated to Bitcoin, the benchmark crypto should continue guiding its overall trend One trader is now noting that this rally marked a break above a long-held triangle formation – suggesting further upside is imminent The crypto is also being added to the CME Futures in February, which means that further upside is likely imminent Ethereum’s price is currently rocketing higher alongside Bitcoin and the rest of the crypto market. Although…

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