RATE Group | Ethereum (ETH) Bulls Rejected Just Below An Important Resistance Line
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Ethereum (ETH) Bulls Rejected Just Below An Important Resistance Line

25 Jan Ethereum (ETH) Bulls Rejected Just Below An Important Resistance Line

Posted at 10:19h in Ethereum News by

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After a superb first half of the week, Ethereum (ETH) bulls are slowing down. At pixel time 9:00 am UTC+3, the second most valuable coin by market cap, is changing hands at $162 and largely unchanged in the last trading day. However, what’s notable is the rejection of prices at the $160-$165 resistance, former support, level. The zone is important for chartists. A comprehensive break and close above this market could usher in a new wave of buys that may lift ETH to $200.

ETH Stagnates at A Key Resistance Level

Ethereum ETH Market Performance
Ethereum ETH Market Performance

ETH, like the rest of the cryptocurrency market benefited from the shifting sentiment and despite the slow down could be ready for new higher highs.

For buyers, this marks a new dawn following last year’s unconvincing price action that saw prices stagnate for long periods of time before tumbling to below $115 in December 2019. At the height of fear, prices snapped back as bulls flew back, restoring equilibrium and calming down the…

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