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

Fri, 09/09/2022 - 20:56
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Alex Dovbnya
Ethereum (ETH) might be on the cusp of a major breakout, according to veteran chartist John Bollinger
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.

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.

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%.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.