Ethereum Retraces After Hitting Crucial Resistance; Here’s How Low It May Dip

Xo 2 980x479

Ethereum is currently retracing following its intense move higher throughout the past few days The cryptocurrency remains technically strong and is sitting well above where it was trading at just one week ago Despite this, analysts are also noting that it recently reached the top of a crucial range seen while looking at its BTC trading pair One analyst is noting that he expects the cryptocurrency’s uptrend to stall here, potentially causing ETH to see some notable near-term downside Despite this, the crypto has yet to tap its crucial USD resistance level that sits around $350 Ethereum is currently trending downwards after stabilizing above $320 throughout most of the day yesterday. It appears that investors are taking profits and potentially rotating their capital into Bitcoin or other altcoins. It’s important to note that Ethereum has yet to visit its key high time frame resistance level seen while looking at its…

Read the original article here