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Legendary Trader John Bollinger on Ethereum Price: "Must Be Time to Pay Attention"

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Fri, 9/09/2022 - 20:56
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Legendary Trader John Bollinger on Ethereum Price: "Must Be Time to Pay Attention"
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In a recent tweet, legendary trader John Bollinger claims that it must be time to pay attention to Ethereum’s price action.

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As noted by the veteran chartist, the second-largest cryptocurrency is currently trading at the upper band of the Bollinger Band (BB) indicator.    

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When the distance between the lower and upper bands significantly contracts, it creates a squeeze that usually serves as a precursor of extreme volatility after a long period of anemic price action.

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Ethereum is currently trading at $1,724 after adding 5% over the past 24 hours.

The flagship altcoin has underperformed Bitcoin, which is on track to secure one of its best days over the last year. The largest cryptocurrency has managed to surge by more than 10%.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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