Ethereum is “Hinting Danger” as Potential Distribution Pattern Emerges

shutterstock 223203700 630x420

Ethereum has continued consolidating alongside Bitcoin and the aggregated cryptocurrency market The crypto is flashing some signs of weakness due to its recent break below its over-month-long trading range between $230 and $250. Buyers have been ardently guarding against a dip below $220, which remains the cryptocurrency’s crucial near-term support Analysts believe that ETH’s weakness is far from being over One trader is pointing to a potential distribution pattern as a technical factor that could cause it to reel significantly lower in the coming several days and weeks Ethereum and the aggregated crypto market have been unable to garner any clear trend following the turbulence seen last week. ETH is now hovering within the $220 region, with its crucial support sitting just below its current price at $220. If buyers are unable to continue defending this level, the crypto doesn’t have any notable resistance until somewhere between $198 and $200,…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE