RATE Group | Ethereum’s Upward Move is Doubtful as Demand at Higher Levels Is Deficient
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Ethereum’s Upward Move is Doubtful as Demand at Higher Levels Is Deficient

28 Dec Ethereum’s Upward Move is Doubtful as Demand at Higher Levels Is Deficient

Posted at 19:33h in Ethereum News by

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Dec 28, 2019 at 12:15 // News

Ethereum upward move is doubtful

In the last 24 hours, buyers came back to stop the bearish run at $120. Interestingly, buyers are fully committed as the market moves and approach the $131. The bottom line is that buyers intend to move above the $140 where the coin had an initial breakdown. The coin’s inability to go up has been held back because of a lack of demand at higher levels.


This setback has caused the bulls to be repelled on four occasions at $136. However, two days ago buyers were repelled at $131 and ETH dropped to $124. Expectantly, if buyers overcome these initial resistances, ETH will rise and retest $140. Conversely, if buyers are repelled at $131, XRP may revert to the current low at $120.


Ethereum Indicator Analysis 


The coin is rising as it ranges over the 25% range of the stochastic. The…

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