Will Ethereum’s Strong Weekly Close Be Enough to Propel It Higher?

Cactus1 980x517

Ethereum has been hovering between $420 and $430 for the past few days, with the resistance found around $450 sparking a prolonged consolidation phase The cryptocurrency has been unable to extend its recent upwards momentum after facing a rejection at this level This has pointed to some underlying short-term weakness, although its long-term outlook remains incredibly bright Analysts are now noting that the token may be well-positioned to see significantly further upside after it sees a low-time-frame dip This potential strength comes after it closed its daily and weekly candle above the key $425 region Ethereum has been caught in the throes of a consolidation phase ever since it faced a rejection at just below $450 earlier this week. The cryptocurrency has not been able to maintain the intense momentum that sent it to these highs and has been largely trading between $420 and $430. It is important to note…

Read the original article here