Ethereum has exploded with the same momentum that Bitcoin did earlier in November, now taking the altcoin’s recovery to over $600. The level is the last major resistance zone before an all-time high retest is due. Here is the level to watch for where a reversal could take place, or if it’s too late and the cryptocurrency will just keep on going from here.
Ethereum Takes Out $600, All-Time High Possible With Another Leg Up
Bitcoin price reaching prices near $20,000 has diverted incoming capital toward altcoins once again. Ethereum had been feigning signs of weakness, but instead was gearing up enough strength under the radar to make a similar-sized push as Bitcoin.
Related Reading | Analyst: Ethereum And Litecoin Forecast One Last Crash Against Bitcoin
The top-ranked altcoin clears $600 today following Bitcoin bullish breakout | Source: ETHUSD on TradingView.com
Price action is rapidly approaching all-time highs, with very little price action above current levels | Source: ETHUSD on TradingView.com
Related Reading | Why Bitcoin Dominance Suggests Alt Season Is Still Many Months Out
Featured image from Deposit Photos, Charts from TradingView.com