RATE Group | As Ethereum Hits a Make or Break Level, This Factor Could Spell Doom for What’s Next
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As Ethereum Hits a Make or Break Level, This Factor Could Spell Doom for What’s Next

07 Jan As Ethereum Hits a Make or Break Level, This Factor Could Spell Doom for What’s Next

Posted at 22:17h in Ethereum News by

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Ethereum has had a great week, as it has been able to post consistent gains that have allowed ETH to claim a stable position within the $140 region. Despite this, it has been woefully underperforming Bitcoin over the past 24-hours, and it is unclear whether it will soon begin a descent as investors transfer capital from altcoins to BTC.

Analysts are now noting that the current price region Ethereum is trading at is a make or break level for the cryptocurrency, and one key factor could signal that it will soon break down and post significant near-term losses.

Ethereum Underperforms Bitcoin, But Posts Strong Gains Over the Past Week

At the time of writing, Ethereum is trading up just under 1% at its current price of $143, which marks a slight climb from its daily lows of $140 that were set earlier today.

While looking towards ETH’s Bitcoin trading pair, the cryptocurrency’s price action looks incredibly lackluster, as it is currently trading down over 5%. This poor performance is…

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