Ethereum (ETH) hasn’t done too hot over recent months. Ever since Bitcoin (BTC) started rallying earlier this year, altcoins across the board have suffered, falling against the market leader.
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However, ETH is purportedly in the thick of a buy zone. Simultaneously, a number of analysts have claimed that the second-largest cryptocurrency is ready to head higher in the coming weeks and months. This confluence may present a solid buying opportunity.
Upward Momentum Building
While ETH may be in a good buying zone, do the technicals or fundamentals support price appreciation?
According to some analysts, certainly YES!
Brave New Coin’s Josh Olszewicz recently noted that the cryptocurrency’s recent consolidation in the $180 price region has allowed ETH to print a bullish chart pattern, an ascending triangle — a signal that often implies bullish trend continuation for the asset in question. He notes that a measured move for this triangle would be a 15% rally to $215 over the coming weeks.
