Ethereum Fails to Surmount Crucial Resistance as Traders Eye a Pullback
Image Courtesy of Chase_NL. Chart via TradingView. Here’s the Crucial Level ETH Bulls Need to Target to Sustain Its Uptrend For the cryptocurrency to continue climbing higher in the days and weeks ahead, Ethereum must shatter $307. While speaking about this specific level, one analyst explained that a close above it would open the gates for a sharp rally to $400. “Daily resistance around $286 and no close here means potential pullback, before the next test. But above that around $307 is the big test. Once ETH breaks and closes above $307 – I don’t see long until it hits over $400 – at least on higher time frames,” he noted.
Image Courtesy of Josh Rager. Chart via TradingView. If Ethereum is unable to surmount the resistance it faces in the upper-$280 region, it is probable that it will see a sharp decline. Featured image from Unsplash. Charts from TradingView.
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