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The Ethereum price just broke through a major resistance we talked about in our previous analysis. Ethereum On A Bullish Rampage. Price Surge To $2,800? and right now, it’s looking like momentum is about to pick up in the Ethereum price. But for this to happen price must stay above the $2,035 level.
We also did a short Youtube video where we explained this bullish surge in Ethereum in greater detail.
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Fundamentals Pushing ETH Higher
Ethereum has been seeing a wave of good news lately, one of the biggest ones being Visa announcing its decision to facilitate crypto-based settlements via the Ethereum blockchain. This opens up Ethereum to the millions of visa card users worldwide.
The price surge that occurred due to this news saw the ETH/USD pair break through the $2,305 ATH. This is a very bullish indicator for ETH but we need to be careful not to get caught in a false breakout.
Bullish Confirmation
We want to see the Ethereum price continue to trade above that $2,305 previous resistance now turned support. This would signal that the Ethereum bulls are in full control of the market and we can expect to see the ETH price continue to rise.
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