Ethereum is pushing higher after temporarily retracing due to weakness in the stock market. The price of the leading cryptocurrency just pushed up to $375, which is near a multi-day high and an important resistance region around $380.
Analysts think that the asset is primed to move even higher as the asset forms a technically bullish chart structure.
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Ethereum is primed to continue its ascent as it passes pivotal resistance levels, analysts say.
One cryptocurrency trader shared the chart on September 11th, noting that ETH has recently crossed a pivotal horizontal. This technical accomplishment, the analyst suggested, will take ETH back to the local highs around $490 in the coming weeks.
Chart of ETH’s price action over the past few weeks with analysis by crypto trader RookieXBT (@RookieXBT on Twitter). Chart from TradingView.com