Ethereum Reaches a “Vital” Point as Bulls Fail to Flip Resistance to Support

ErhONluW8AQhlct 980x503

Ethereum and the entire crypto market has faced some weakness throughout the past couple of days Although both BTC and ETH are trading well above their recent lows, it is important to note that bears are in the process of reversing yesterday evening’s gains This downtrend could prove to be bearish for ETH, as the crypto has been unable to flip a key resistance level into support This comes as it ventures into what one analyst is describing as a “vital” point that could provide some serious insights into where the entire market will trend next Where Ethereum trends in the mid-term will undoubtedly depend on Bitcoin and its reaction to the support in the lower-$30,000 region Ethereum has been sliding lower all morning in tandem with Bitcoin. The benchmark crypto led the market to see a rebound yesterday evening, but the selling pressure proved to be too much for…

Read the original article here