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Ethereum was rejected at the critical $400 resistance during Saturday’s rally. The cryptocurrency failed to decisively hold above that level despite the rallying in the value of altcoins. As of the time of this article’s writing, ETH trades for $395, just shy of the aforementioned resistance.
Analysts say that Ethereum holding above $400 on a macro basis could be the precursor to an even greater surge in the weeks and months ahead.
ETH Is Set to Break Above $400 Again: Analysts
Fortunately for buyers of the cryptocurrency, the cryptocurrency is set to cross above $400 according to analysts and fundamental trends.
As reported by NewsBTC previously, one analyst noted that Ethereum’s price action looks as though it is about to break past $400. He cited a fractal analysis of May 2019:
“I don’t know why not all of CT is talking about this ridiculously similar looking fractal. Spoiler: this chop led to another massive pump in 2019.”
Analysts say that Ethereum holding above $400 on a macro basis could be the precursor to an even greater surge in the weeks and months ahead.
ETH Is Set to Break Above $400 Again: Analysts
Fortunately for buyers of the cryptocurrency, the cryptocurrency is set to cross above $400 according to analysts and fundamental trends.
As reported by NewsBTC previously, one analyst noted that Ethereum’s price action looks as though it is about to break past $400. He cited a fractal analysis of May 2019:
“I don’t know why not all of CT is talking about this ridiculously similar looking fractal. Spoiler: this chop led to another massive pump in 2019.”