Parabolic rally ‘a real possibility’ after Ethereum price surges to $547 By Cointelegraph

0
11

Parabolic rally ‘a real possibility’ after Ethereum price surges to $547

The price of Ether (ETH), the native cryptocurrency of , has surpassed $547. Following the breakout, traders are pinpointing several key resistance levels in the near term.

In the short term, traders generally foresee $600 as the major resistance area for Ether as it marked the beginning of a bearish trend starting in May 2018. As such, $600 could act as an area of interest for sellers.

The weekly price chart of Ether. Source: TradingView.com
Potential Ether price cycle with resistance levels. Source: TradingView, Michael van de Poppe