Why Ethereum Is Primed to Move Higher Despite Drop From $460 Highs

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Ethereum has faced a drop since the $465 highs it reached last week when Bitcoin broke toward $16,000. ETH trades for $445 as of this article’s writing. Still, analysts remain confident in the cryptocurrency despite the recent price weakness. This is due to a confluence of both technical and fundamental signals for the second-largest crypto-asset by market capitalization. Ethereum Could Push Toward $500 Ethereum has faced a drop since the $465 highs it reached last week when Bitcoin broke toward $16,000. ETH currently trades for $445, far from the lows of the retracement set last week but far from the highs. Analysts remain confident in the cryptocurrency despite the recent price weakness. This is due to a confluence of both technical and fundamental signals for the second-largest crypto-asset by market capitalization. ETH is up 0.1% in the past 24 hours as bulls try and reclaim some ground after a drop.…

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