Ethereum Needs to Secure $470 in the Near Future to Confirm Upside

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Ethereum has seen some weak price action as it fails to surpass the resistance zone from $470 to $490. Analysts suggest that the cryptocurrency should reclaim the $470 support to confirm more upside. There are “monstrous sell walls” on Coinbase’s ETH market that could limit upside moving forward. It also appears that there are a large number of traders on Huobi that are expecting Ethereum to move lower moving forward. Ethereum Must Secure $470 to Confirm Upside Ethereum has seen some weak price action as it fails to surpass the resistance zone from $470 to $490. The leading cryptocurrency currently trades slightly down on the day at $460, underperforming Bitcoin slightly. Analysts suggest that the cryptocurrency should reclaim the $470 support to confirm more upside. A crypto-asset trader shared the chart seen below earlier today. The chart suggests that ETH is currently range bound on a short-term basis, trading between…

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