Ethereum Reaches a Turning Point; Here’s What Could Reverse Its Uptrend

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Ethereum has been consolidating alongside Bitcoin throughout the past several days, struggling to break above the heavy resistance that has been formed at $400 This consolidation phase has offered little insight into the cryptocurrency’s near-term outlook Analysts are now noting that ETH may be well-positioned to see significant upside in the short-term One trader is noting that there is one level that could invalidate this strength, but it remains unclear as to whether or not it will be tested anytime soon Ethereum and the entire cryptocurrency market is currently witnessing mixed price action. Yesterday, ETH bulls stepped up and sent the crypto rallying up towards $400 – which happens to be its key resistance level. At this point, buyers lost their momentum, and it once again fell back into its consolidation channel around $390. Despite this, analysts are now noting that the cryptocurrency’s technical outlook is growing bright, and it…

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