The Ethereum (ETH) price began an upward movement on November 17 and is approaching its yearly high.
Despite several attempts, ETH has yet to reach a new yearly high since April 16. Will it finally do so?
Ethereum Nearly Reaches Yearly High
The technical analysis of the daily time frame shows that the ETH price has increased rapidly since the start of October. During this time, it broke out from a descending resistance trendline that had been in place for 203 days, since the yearly high on April 16.
The upward movement culminated with a high of $2,136 on November 10, an increase of 30% since the October lows.
The ETH price fell afterward but regained its footing on November 17.
Market traders use the RSI as a momentu
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Author: Valdrin Tahiri
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