Ethereum Taps Key Resistance as Analysts Watch for Rebound to Falter

Chase NL 980x457

Ethereum has posted a strong rebound from its recent lows, with bulls pushing the cryptocurrency up to highs of $360 earlier today This upswing proved to be short-lived, and the cryptocurrency has since been rejected at this level Nonetheless, today’s price action has signaled that ETH’s sub-$320 lows may ultimately mark a long-term bottom that is followed by further upside While speaking about this, one analyst explained that although today’s rebound has been strong, it has led Ethereum into a massive resistance region Ethereum and the aggregated crypto market have seen some slightly positive price action today, with ETH’s intense selloff yesterday coming to an end around $315, which is where buyers stepped up and catalyzed a sharp rebound. This rebound proved to be somewhat short-lived, however, as it sent ETH to highs of $360 before it faced insurmountable resistance that sparked a rejection. One analyst, while speaking about this…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE