Fractals May Give Traders Guidance as to Where Ethereum (ETH) and Litecoin (LTC) are Heading Next
As Bitcoin continues to trade within its recently established range between $3,400 and $3,500, the markets have been trading sideways, with major cryptocurrencies like Ethereum (ETH) trading flat, as other cryptocurrencies, like Litecoin (LTC), have seen some relatively large price gains.
Although the markets have been quiet as of late, analysts are pointing to developing fractal patterns to possibly give traders guidance as to where some major cryptocurrencies, like Ethereum and Litecoin, are heading next.
Ethereum (ETH) Price May Soon Surge
At the time of writing, Ethereum is trading down less than 1% at its current price of $107.21. Over the past week, Ethereum has been ranging between $105 and $110, and is currently trading directly between these two price points.
It is important to note that ETH has been able to hold steady above $100, which is an important psychological level for the cryptocurrency.
In a recent tweet from popular cryptocurrency analyst, Luke Martin, he explained that ETH may be gearing up for an upwards price based on an analysis of its fractal patterns.
“$ETH fractal/pattern that caught my eye today scrolling through timeframes. Will be fun to track it’s progress… fractals aren’t something I would base a trade on but they can make for a nice guide. still need a setup or confluence with my actual approach,” Martin explained.
$ETH fractal/pattern that caught my eye today scrolling through timeframes. Will be fun to track it's progress.
*fractals aren't something I would base a trade on but they can make for a nice guide. still need a setup or confluence with my actual approach. pic.twitter.com/mrBJYBeVd7
— Luke Martin (@Ve ...