Ethereum has been in a price stabilization phase over the past days and weeks. Ethereum prices have been fluctuating around $ 1,300 during this period. Now some analysts have announced that the key resistance of $ 1,380 is likely to be broken.
To Report News Atlas, Ethereum currently trades in the $ 1,350 range. According to experts, the most important resistance to this digital currency is $ 1,380. There are many vendors in this area and this is an obstacle to its failure.
As soon as $ 1,380 is broken, one can expect a massive jump in Ethereum prices and even a new high. One analyst says there is a possibility and he is closely monitoring price fluctuations.
Ethereum, meanwhile, was trading above $ 1,400 yesterday.
Since the price of Ethereum has been stabilizing for some time, it is not possible to say with certainty what its future trend will be.
The bitcoin trend and its response to emerging resistance in the $ 30,000 to $ 35,000 range can help us determine the trend of market-leading altcoins such as Ethereum.
A market analyst said in a recent tweet that Ethereum may be preparing for a major leap. He compared this jump with the November jump of this digital currency. Ethereum managed to cross the $ 1,000 mark at the time.
“Every price floor indicates that buyers are willing to pay a higher price for Ethereum,” he wrote.
It is worth noting that the price of Ethereum has spent the whole of January in the range of $ 1,300. The situation in Ethereum is very similar to November. At that time, the price of Ethereum exploded and never returned to where it was. Buyers are willing to pay much higher prices for Ethereum.
As long as the bitcoin situation is stable, there is a strong possibility that the price of Ethereum will jump sharply.