The Ethereum (ETH) price broke out from a 200-day descending resistance trendline yesterday.

The ETH price reached a new yearly high of $1,916 today. How long will it continue to increase?

Ethereum Finally Clears Resistance

The daily time frame technical analysis shows that the Ethereum price had fallen under a descending resistance trendline since its yearly high of $2,141 in April.

The decrease led to a low of $1,520 before the price began, an upward movement that is still ongoing.

On November 5, after falling under the descending resistance trendline for 203 days, the Ethereum price finally broke out. It reached a new yearly high of $1,916 the same day.

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Author: Valdrin Tahiri

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