-0.4 C
Amsterdam
10 December 2022
PumpMoonshot
Image default
News

ETHEREUM IS COILING UP TO MAKE A BIG MOVEMENT; HERE’S WHY IT MAY FAVOR BEARS


  • Ethereum, like Bitcoin, has been caught within a long-held bout of sideways trading over the past week
  • This consolidation has made it increasingly unclear as to which direction it will trend next
  • It has largely come about as a result of the lackluster price action seen by Bitcoin in recent times
  • Analysts do believe that ETH could be poised to see some notable downside if it is unable to push higher in the days and weeks ahead

Ethereum has been closely tracking Bitcoin’s price action ever since the crypto market bore witness to immense volatility last week.

This market-wide consolidation trend has caused ETH to hover in the $240 region, being unable to break through the resistance that remains between it and setting fresh local highs.

News source

Related posts

Bank of China’s CBDC trial transaction count crossed 3 million between April and August

PumpMoonshot

Ethereum [ETH] Breaks Close to $600 For The First Time In More Than 2 Years

PumpMoonshot

BitMEX and Binance show which traders they prefer

PumpMoonshot