The price of ethereum is consolidating near a key resistance level after rebounding off the late November sell off.

### This action looks familiar...


![image.png](https://images.hive.blog/DQmeNC36ftKkxfGUq18k9p9E2cyfCQkDV1JNEZzzDRMxXJp/image.png)

Looking at the chart the action looks very similar to what is happening in bitcoin right now.   The tone is bullish as price consolidates near recent highs and recovered nicely.

Just like with bitcoin, this could be a double top that is being hammered out, or it is just high and tight consolidation before a blast higher through resistance.

#### Here is the big difference between bitcoin and ethereum

And I'm about to state the obvious here....the big difference is Bitcoin is right at its all time high, looking to move up into unchartered territory.

Ethereum on the other case is still nearly 2/3rd off its all time high.

So does this me Ethereum has potentially more upside in the near-term than bitcoin, given that it can make sick run just to get back to its all time high, while if bitcoin popped up even to 30K that would be a sick move, but it would also be just a 50% move (only a 50% move is hard to say with a straight face) but compared to a potential 140% move if ethereum were to reach highs it is relatively small.

I'm just speculating for fun with this, but it will be interesting to see how ethereum trades when bitcoin clocks new all time highs.




 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@scaredycatguide/ethereum-is-trading-very-similar-to-bitcoin-but-with-one-key-difference)