Ethereum Fails to Post Bullish Monthly Close, Opening the Gates for Downside

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Ethereum’s trend of underperformance against Bitcoin has persisted and is showing few signs of changing anytime soon The cryptocurrency has been unable to match the strength seen by BTC over the past few weeks, and it is still trading below its key $400 resistance level Where it trends in the near-term depends largely on Bitcoin’s reaction to $14,000, as a break above this level could send the entire market flying higher One analyst is now noting that he expects ETH to see some weakness in the near-term He is specifically watching for a potential decline to its first robust support at $270 Ethereum has been struggling to gain any strong momentum throughout the past few weeks. This stagnant price action has come about as Bitcoin enters full-blown bull territory as it pushes against $14,000. Its price is currently struggling to break above $390 – as this level has held strong…

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