Ether Price Analysis: Potential Reaccumulation Phase Could Push Stronger Highs

Since its rapid ascent from $8 to the $400s, ether has seen a fair amount of volatility. Over the last few weeks, there has been a surge in volume as it pushed out of its multi-month trading range:Figure 1: ETH-USD, 12-Hour Candles, Macro TrendThe several months ether spent consolidating appears to have formed a macro Reaccumulation Phase that led to a breakout of the trading range on strong volume; ultimately yielding our current market position in the $450s. A Reaccumulation Phase is a pause after a strong uptrend that attempts to shake out weak shareholders as the market consolidates toward the …

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