Ether with 110% growth since the beginning of the year, but will the rally wear off?

Ether has doubled in value since the beginning of the year, but technical indicators are also beginning to turn red for the second-largest digital currency.

Looking at the GTI Global Strength Indicator, Ether is at its strongest buying level since May 2019. Coyne also accounts for 30% of the Bloomberg Galaxy Crypto Index, which has also entered a strong ovebourght zone.

Analysts expect the digital currency rally to continue, with Ether reaching strong resistance in the area at $ 400- $ 440.

Ether has been up nearly 110% since the beginning of the year. This is 80% below ATH at a price of $ 1,432 reached in January 2018.

Source: Bloomberg Finance L.P.
Graphs: Used with permission of Bloomberg Finance L.P.

 Trader Martin Nikolov

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