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Ethereum 'has to bounce' as ETH bulls pin $5K rally hopes on critical support channel
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Ethereum's native token Ether (ETH) could see yet another strong rebound in the sessions ahead as its price falls into a trading zone with a recent history of attracting buyers.
The rising trendline has been triggering ETH's price rebounds since the beginning of October 2021 and comes as a part of a broader Ascending Channel range.
As a result, Ether's path of least resistance has been to the upside despite pullbacks at the Channel's upper trendline, with its quarter-to-date returns currently sitting at over 38%.
Most recently, the rising trendline was instrumental in limiting selloffs that followed the Ether price's rally to a new record high above $4,870. That prompted analysts to expect another strong price rebound in the future, with a
Read more on cointelegraph.comAbout this in other media
Ethereum: 1 million ETH now burned, but here’s why the Merge cannot wait ambcrypto.com /2 years ago
Time Magazine will hold ETH as part of Galaxy Digital partnership to support metaverse newsletter cointelegraph.com /2 years ago
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