Ethereum to See Brutal Rejection as Bearish Trendline Test Approaches

simon migaj VjIm5 UkvfY unsplash 630x420

Ethereum caught some notable upwards momentum earlier today that has led it up towards the $180 region This momentum has led it towards a key descending trendline that could spark a brutal rejection ETH also faces some intense horizontal resistance just a hair above its current price Ethereum and the aggregated cryptocurrency market is currently caught within a firm upswing that has allowed Bitcoin to surmount $7,000 while ETH and most of its other peers all post notable gains. This newly found momentum comes close on the heels of a bout of weakness seen by virtually all major cryptocurrencies and could lead to another retest of their previously formed resistance levels. One factor that could force Ethereum to see a dire price decline is a strong descending trendline that it is about to test, which closely coincides with a strong horizontal resistance region. Ethereum Approaches Heavy Resistance as Analysts Watch…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE