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

 




  • 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…


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