In a recent tweet, legendary trader John Bollinger claims that it must be time to pay attention to Ethereum’s price action.
As noted by the veteran chartist, the second-largest cryptocurrency is currently trading at the upper band of the Bollinger Band (BB) indicator.
Alex DovbnyaXRP To $1 Attempt Again? 37 Trillion Shiba Inu (SHIB): Is This Enough? Next Solana (SOL) Surge Can Bring It to $300
Satoshi-Era Whale Transfers 2,000 BTC After 14 Years of Dormancy
Race to Replace Gensler Heats Up with New Candidate
Ex-Binance CZ Issues Big Crypto Warning: 'Be on the Right Side of History'
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.
Advertisement
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%.
Arman Shirinyan
Dan Burgin
U.Today Editorial Team
Vladislav Sopov