Parabolic Rally Is ‘A Real Possibility’ After Ethereum Price Hikes To $ 547 By Cointelegraph

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Parabolic rally is ‘a real possibility’ after Ethereum’s price soars to $ 547

The price of Ether (ETH), the native cryptocurrency, broke above $ 547. Following the breakout, traders are seeing several key resistance levels in the near term.

In the short term, traders generally see $ 600 as the main resistance area for Ether as it marked the start of a bearish trend starting in May 2018. As such, $ 600 could act as a area of ​​interest for sellers.

Ether Weekly Price Chart. Source: TradingView.com
Potential Ether price cycle with resistance levels. Source: TradingView, Michael van de Poppe