Gigantic Ethereum Buy Wall May Be Enough to Spark a Parabolic Rally
Ethereum has been closely tracking Bitcoin’s volatile price action as of late, which head led ETH to gain a firm position within the $140 region.
The cryptocurrency’s bulls have shown signs of growing vitality over the past several days, which comes as the altcoin market begins flashing hints of having immensely bullish near-term potential.
It is important to note that Ethereum’s bulls have now created an unprecedented buy wall on a major exchange, signaling that bears would have to incur massive strength in order to push the crypto down from its current price levels.
This massive buy wall may be one factor that helps ETH spark a parabolic rally, as one analyst is noting that the crypto could soon target a move to $180, with a break above this level potentially leading it as high as $280.Ethereum’s Bulls Build Massive Buy Wall as ETH’s Price Action Grows BullishAt the time of writing, Ethereum is trading up marginally at its current price of $145, which marks only a minor decline from its daily highs of $147 that were set yesterday in tandem with Bitcoin’s rally to $8,300.
Although both Bitcoin and Ethereum were rejected shortly after this attempt at another rally began, bulls have been able to absorb enough of the selling pressure to hold the cryptocurrencies well above their key support levels.
10 BTC & 20,000 Free Spins for every player in mBitcasino’s Winter Cryptoland Adventure One factor that should be carefully considered in the near-term is that ETH currently has a massive buy wall of roughly 35,000 ETH on Okex, sitting just a hair below its current price level.
“Massive buy walls now on okex march2020 $ETH, 143 equiv in spot seems to be a very important re-accumulation level, around 35k ETH,” Su Zhu, the CEO of Three Arrows Capital, explained in a recent tweet.
Read the full topic at
https://www.newsbtc.com/2020/01/12/gigantic-ethereum-buy-wall-may-be-enough-to-spark-a-parabolic-rally/
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The cryptocurrency’s bulls have shown signs of growing vitality over the past several days, which comes as the altcoin market begins flashing hints of having immensely bullish near-term potential.
It is important to note that Ethereum’s bulls have now created an unprecedented buy wall on a major exchange, signaling that bears would have to incur massive strength in order to push the crypto down from its current price levels.
This massive buy wall may be one factor that helps ETH spark a parabolic rally, as one analyst is noting that the crypto could soon target a move to $180, with a break above this level potentially leading it as high as $280.Ethereum’s Bulls Build Massive Buy Wall as ETH’s Price Action Grows BullishAt the time of writing, Ethereum is trading up marginally at its current price of $145, which marks only a minor decline from its daily highs of $147 that were set yesterday in tandem with Bitcoin’s rally to $8,300.
Although both Bitcoin and Ethereum were rejected shortly after this attempt at another rally began, bulls have been able to absorb enough of the selling pressure to hold the cryptocurrencies well above their key support levels.
10 BTC & 20,000 Free Spins for every player in mBitcasino’s Winter Cryptoland Adventure One factor that should be carefully considered in the near-term is that ETH currently has a massive buy wall of roughly 35,000 ETH on Okex, sitting just a hair below its current price level.
“Massive buy walls now on okex march2020 $ETH, 143 equiv in spot seems to be a very important re-accumulation level, around 35k ETH,” Su Zhu, the CEO of Three Arrows Capital, explained in a recent tweet.
Read the full topic at
https://www.newsbtc.com/2020/01/12/gigantic-ethereum-buy-wall-may-be-enough-to-spark-a-parabolic-rally/
Follow me on
Twitter: https://twitter.com/cryptoexpert20
IF you be an admin for your telegram group you can order from the link
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