Ethereum and the entire cryptocurrency market are currently caught within a consolidation phase This has come about due to Bitcoin’s tight bout of trading between $11,400 and $11,600 ETH is trading above a critical level that it was previously struggling to surmount This is a bullish sign that indicates it may be well-positioned for a strong move higher in the near-term That being said, one analyst believes that ETH’s price could drift significantly lower while still maintaining its bullish market structure He believes $360 is a critical level
Bitcoin has been leading Ethereum and the rest of the crypto market to see a prolonged bout of sideways trading. This has done little to offer investors with insight into where the market may trend in the near-term.
ETH is still trading above $380, however, which is an incredibly bullish sign that indicates it may be well-poised to push higher.
This level has long been pivotal for the crypto, and the