{"id":420034,"date":"2020-04-05T20:00:43","date_gmt":"2020-04-05T20:00:43","guid":{"rendered":"https:\/\/wncen.com\/?p=420034"},"modified":"2020-04-05T18:55:11","modified_gmt":"2020-04-05T18:55:11","slug":"ethereum-faces-confluence-of-bullish-factors-as-analysts-eye-move-to-200","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-faces-confluence-of-bullish-factors-as-analysts-eye-move-to-200\/","title":{"rendered":"Ethereum Faces Confluence of Bullish Factors as Analysts Eye Move to $200"},"content":{"rendered":"
Ethereum has been struggling to garner any momentum as it faces heightened resistance around the mid-$140 region, with this bout of consolidation coming about in tandem with that seen by Bitcoin and most other altcoins.<\/p>\n
In spite of this, ETH has been able to form a bullish textbook charting pattern that may give it some notable momentum once it breaks through the resistance it is facing around its current price levels.<\/p>\n
This also comes as the crypto incurs some notable fundamental strength, with one on-chain metric suggesting that ETH is poised to see some serious near-term upside.<\/p>\n
At the time of writing, Ethereum<\/a> is trading down marginally at its current price<\/a> of $143.70.<\/p>\n This is the price at which ETH has been trading at for the past few days, with its rally seen earlier this past week allowing it to climb to highs of $145 before being rejected.<\/p>\n Bulls then tested this level again on multiple occasions, with each time resulting in a similar rejection.<\/p>\n It is important to note that consolidation directly below resistance can be viewed as a bullish sign, as it often suggests that an upwards breakout is imminent.<\/p>\n Another key factor that could bolster Ethereum in the days ahead is the fact that it has formed what appears to be an ascending triangle with an upper boundary existing at just over $145.<\/p>\n Josh Olszewicz, a prominent cryptocurrency analyst, pointed out<\/a> this emerging pattern in a recent tweet, while offering a chart with a target existing at roughly $200.<\/p>\n