ETH has just broken through after consolidation over the past three days. The next step of going higher can drive the Ethereum ecosystem's counterfeit currency to soar
ETH has just broken through after consolidation over the past three days. The next step of going higher can drive the Ethereum ecosystem's counterfeit currency to soar.
Will ETH rise next?
Last Thursday, ETH broke through the resistance level of $2000, rising 11%, and has been consolidating within the flag for the past three days. At 2pm Greenwich Mean Time, the US dollar popped out from the top before the end of the narrow flag shaped triangle, and as of the time of publication, the current price is approximately $2100.
Confirming a breakthrough may cause ETH prices to fall back to $2060 at the top of the triangle, but this remains to be seen. The bullish trend of ETH is exactly what the encryption industry needs, as BTC is consolidating sideways and currently has no upward or downward momentum.
Of course, for ETH, there is still a situation where this trend becomes a fake exit, and the price is refused to return to the triangle and move downwards. However, in the current situation, this seems very positive.
The Ethereum ecosystem shows signs of awakening
It is still too early to determine whether ETH's breakthrough will seize the upward momentum, but initially, Ethereum pledged tokens have started to operate together with ETH.
Lido ($LDO) is one of the leaders, up 6% so far. Here, prices have also fallen, testing the current possible support level of $2.40, and it is still necessary to create higher highs.
RocketPool ($RPL) surged 16% and then returned to support levels slightly below $32 in testing, while FraxShares ($FXS) seems to have successfully tested support levels of $6.90.
It will be very interesting to see if Ethereum can sustain its recent rebound - the entire encryption market can benefit greatly from it.
Prepare to send a spot password, with an increase of 30%+. Fans will be notified.
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