Ethereum Could Be on the Cusp of Going Parabolic as Analysts Eye Upside

EmvjxvbXIAEDABI 980x530

Ethereum has been closely tracking Bitcoin’s price action as of late, which has primarily led it to enter a prolonged consolidation phase The cryptocurrency’s price action has favored altcoins in recent times, as the stability seen by both ETH and BTC has allowed smaller digital assets to post massive gains Where ETH trends in the near-term will likely depend on Bitcoin, but the resurgence in the DeFi trend could give rise to an Ethereum price spike that takes place regardless of where Bitcoin trends If this happens, the crypto must shatter the resistance it faces at $500 Ethereum and the aggregated cryptocurrency market have been caught in the throes of an intense bout of consolidation throughout the past few days and weeks. This sideways trading has provided a strong base for higher risk digital assets to grow upon, with many “blue-chip” tokens within the DeFi sector posting large gains. One…

Read the original article here