ETH looks ready to have another go at tackling the $200 resistance and traders are wondering if the current surge the result of positive news or a more technical move.
Ethereum Price: Market Overview
Ethereum 00 had spent the last three weeks in a rut but a trend reversal on the ETH-BTC could mean it’s ETH’s time to run alongside Bitcoin.
The recent surge was possibly influenced by the rumor that the CFTC might approve Ethereum futures and Consensus 2019 fast approaches and the coming days and price action will reveal whether the move was a technical or media-driven surge.
Given that Ethereum price has been crushed throughout 2018, the approval of CFTC ETH futures would likely receive long bets from investors since ETH remains light years away from its 2018 all-time high.
ETH-BTC Daily Chart
On Monday the ETH-BTC pairing broke the long pattern of lower lows and after setting a higher high and low it appears that trend reversal could be in play.
ETH managed to briefly pop above the falling wedge but at the time of…