Bitcoin saw a sharp upwards movement earlier today that allowed the cryptocurrency to surge as high as $6,900, with this rally leading major altcoins like Ethereum to follow suit and further extend the momentum that was first incurred early yesterday.<\/p>\n
Analysts are now noting that today\u2019s rally allowed ETH to break above a key technical resistance level that was previously hampering its price action.<\/p>\n
This break could prove to be highly bullish for the crypto in the near-term, potentially allowing it to rally towards $180 in the days ahead.<\/p>\n
At the time of writing, Ethereum<\/a> is trading up just under 5% at its current price<\/a> of $138, which marks a notable climb from daily lows of $130 that were set yesterday.<\/p>\n It is important to note that ETH raced as high as $150 today before losing its steam and retracing back towards its current price levels, although it still appears to be bullish from a technical perspective.<\/p>\n Micha\u00ebl van de Poppe \u2013 a popular cryptocurrency analyst on Twitter \u2013 explained in a recent tweet that the key near-term resistance Ethereum<\/a> needs to surmount if it wants to continue climbing higher sits between roughly $152 and $153.<\/p>\n \u201cEthereum: Got there and rejected. Wonderful. If we clear $152-153 area, I assume we’ll rally towards $185-195. However, after such a rally I think it’s more likely to see retests of $120-125 before continuation,\u201d he noted.<\/p><\/blockquote>\n $ETH<\/a> #ETHEREUM<\/a><\/p>\n Got there and rejected. Wonderful.<\/p>\n If we clear $152-153 area, I assume we'll rally towards $185-195.<\/p>\n However, after such a rally I think it's more likely to see retests of $120-125 before continuation. pic.twitter.com\/9KcuBh0tPs<\/a><\/p>\n — Micha\u00ebl van de Poppe (@CryptoMichNL) March 20, 2020<\/a><\/p><\/blockquote>\n\n