fxstreet.com 17 Feb, 2021 08:00 am

ETH aims for a quick run-up to $1,900 if vital support holds

ETH aims for a quick run-up to $1,900 if vital support holds
Ethereum hit a new all-time high at $1,871 on February 13 and after a brief correction, it looks ready for another leg up as long as ETH bulls can hol

The amount of whales with at least 1,000,000 coins and 10,000,000 at most ($1,700,000,000 and $17,000,000,000) has increased two.Similarly, holders with 100,000 - 1,000,000 ETH also went into a buying spree from 152 on December 31, 2020, to 159 currently.Ethereum price has been trading inside an ascending wedge pattern since the beginning of 2021.Ethereum price is ready for a jump towards $1,900 On the 12-hour chart, Ethereum has been trading inside an ascending wedge pattern since the beginning of 2021.

ETH/USD 12-hour chart A close above the 26-EMA can quickly push Ethereum price towards the upper boundary of the channel again at $1,900, keeping in mind that a breakout above the upper trendline would drive Ethereum price towards a high of $2,800.It seems that bulls have once again defended a key support level and aim for a rebound.

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