There’s Millions of Dollars of Ask Orders Suppressing Ethereum Upside

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Ethereum has undergone a strong rally over the past few weeks, moving higher with Bitcoin. But key market data suggests that the case for upside will be limited for the time being. For one, there are “monstrous sell walls” on Coinbase for the Ethereum chart. These walls should limit upside for the time being. Ethereum Market Data Suggests Price Could Drop Ethereum has undergone a strong rally over the past few weeks, moving higher with Bitcoin. But key market data suggests that the case for upside will be limited for the time being. He shared the chart below just recently, which shows that there are “monstrous sell walls” on Coinbase for the Ethereum chart. These sell walls should limit upside for the time being. The sell walls are situated in the $480 region, where ETH found resistance during the summer. Chart of ETH’s price action over the past few days…

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