Ethereum Could Be in a Precarious Position as Buyers Fail to Break Key Level

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Ethereum has been underperforming Bitcoin throughout the past couple of days, drifting lower while the benchmark crypto nears its 2020 highs Higher risk assets like ETH may be seeing tempered price action because investors fear the sustainability of BTC’s latest push higher If it can stabilize and see a continued bout of sideways trading, then assets like Ethereum may be able to push significantly higher One trader is noting that until $460 is flipped back into support, however, ETH may be in a somewhat precarious position He emphasized that a 4-hour candle close above this level is imperative for bulls Ethereum has been woefully underperforming Bitcoin throughout the past few weeks – a trend that has persisted up until now, despite the recent strength seen throughout the DeFi sector. Yesterday, when BTC’s price briefly broke below $16,000, investors panicked and sold ETH until it reached $440, which is when its…

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