Analyst: Ethereum Forming Extremely Bullish Pattern as Bulls Target New Highs

Analyst: Ethereum Forming Extremely Bullish Pattern as Bulls Target New Highs


Ethereum and the entire crypto market is consolidating today following some recent turbulence Bulls stepped up after the entire market saw a massive selloff yesterday and absorbed the influx of selling pressure, allowing BTC to rocket past $40,000 and ETH to move higher Today, the market has consolidated and drifted slightly lower, although bulls still seem to be poised to catalyze further upside One trader is now noting that Ethereum could be well-positioned to see upside in the near-term, adding that its outlook is growing strong by the day He is specifically noting that a move up to the $2,000 region could be imminent in the days and weeks ahead

Ethereum has been struggling to gain any immense momentum as it navigated towards the mid-$1,200 region, with the selling pressure here proving to be significant.

Each move towards $1,300 has sparked rejections, and its price has been moving in close tandem with Bitcoin’s.

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One analyst believes that

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