Ethereum has been outperforming Bitcoin over the past 24-hours, posting a massive upwards movement that has allowed it to secure a position within the $170 region, which marks a notable climb from ETH\u2019s recent lows around $120 that were set in the final weeks of 2019<\/p>\n
Analysts are now noting that they anticipate Ethereum\u2019s upwards momentum to continue strong in the coming days and weeks, with a few key technical factors enhancing the cryptocurrency\u2019s near-term potential.<\/p>\n
At the time of writing, Ethereum<\/a> is trading up just under 3% at its current price<\/a> of $174, which marks a notable climb from its weekly lows of $144 and a slight climb from its daily lows of $167.<\/p>\n Ethereum is also outperforming Bitcoin at the moment by roughly 2.5%, and this trend may continue strong in the near-term as the crypto begins building incredible technical strength.<\/p>\n One such example of a bullish technical formation that ETH is currently breaking out of is the bullish pennant that it had formed over a multi-day time frame, with its horizontal boundary existing at 0.0195, which is just a hair beneath its current price.<\/p>\n \u201cETH looks hungry,\u201d Jonny Moe, a popular cryptocurrency analyst on Twitter, explained in a tweet from yesterday evening while pointing to the aforementioned technical formation.<\/p>\n $ETH<\/a> looks hungry pic.twitter.com\/mfD0FXAXFF<\/a><\/p>\n — Jonny Moe (@JonnyMoeTrades) January 18, 2020<\/a><\/p><\/blockquote>\n\n