Ethereum Aims for $500 as On-Chain Metrics Show Little to No Resistance Ahead

Ethereum Aims for $500 as On-Chain Metrics Show Little to No Resistance Ahead

Screenshot 2020 08 31 at 15.20.59

Since the beginning of the month, Ethereum has been consolidating within a narrow range. Its price has been mostly contained between the $372 support and the $445 resistance level, without providing any clear signals of where it is headed next.

The stagnant price action caused the Bollinger bands to squeeze within the same time frame, indicating that a period of high volatility is underway. Only…

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