Ethereum Could See Historic Bullish Moves

The crypto market continues to remain resilient no matter the geopolitical tensions and other crises in the world. Now, Bitcoin and Ethereum continue to enjoy a lot of optimistic predicitons around them.

At the moment of writing this article, both digital assets are trading in the green. ETH is priced at $3,405.

It’s been just reported that Ethereum (ETH) could be mimicking the early stages of the 2016/2017 bull run, according to popular crypto analyst Benjamin Cowen.

In a new YouTube update, Cowen made sure to explain the fact that Ethereum’s current price patterns indicate it’s in a similar re-accumulation phase to when it bounced between $7 and $14 in 2016 and early 2017.

Ethereum broke through that range in March 2017 and rose past a value of $1,440 by January 2018, as the online publication the Daily Hodl notes.

“If you overlay this [2016/2017] bar pattern, and we just overlay it from this move [now], one of the things you’ll notice is there are a lot of similarities in these moves…”

He continued and said the following:

“You come up, you come back down, you go back up, sort of a double-top sort of a thing there in the short-term, a long bleed back down, and then a slow move back up to the top. This would equate getting back up to the top of the range by the very beginning of May and then seeing a breakout in the summer.”

Cowen also made sure to explain the fact that there is risk involved with ETH and that price increases to new all-time highs are never a sure thing. In other words, he is saying that there’s a need for caution amid this surge.

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