Bitcoin has been guiding Ethereum’s price action as of late, which has led ETH to see some immense volatility.
While BTC flirts with setting fresh all-time highs, ETH remains well below its highs of well over $1,000 that were set in the height of the market-wide mania.
The buying pressure seen across the entire market over the past 2 weeks has greatly benefitted the cryptocurrency. It does, however, face some heavy resistance between $600 and $630.
One trader is noting that a strong daily candle close between these two levels could be all that is needed for the crypto to see some massive momentum that sends it rocketing up towards $700 in the near-term.Ethereum Shows Signs of Strength as Bulls Try to Claim $600
At the time of writing, Ethereum is trading up just over 1% at its current price of $593. This is around where it has been trading throughout the morning.
Bulls are ardently trying to shatter the selling pressure around $600, with a break above this level opening the gates for it to see further upside.
Once broken above, a key resistance level to watch sits at roughly $620.Analyst: ETH Closing Above $60...