RATE Group | Ethereum Nears Massive Resistance Region as On-Chain Volume Surges
67677
wp-singular,post-template-default,single,single-post,postid-67677,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Ethereum Nears Massive Resistance Region as On-Chain Volume Surges

05 Nov Ethereum Nears Massive Resistance Region as On-Chain Volume Surges

Posted at 23:32h in Ethereum News by

[ad_1]

After a long period of trading sideways within the mid-$180 region, Ethereum (ETH) has now begun to incur significant upwards momentum that has pushed it up to $190, which is where it faces some notable resistance that could ultimately push its price lower in the near-term.

Analysts are now noting that this resistance level could halt Ethereum’s rally and possibly lead it to drop significantly lower in the near-term.

Ethereum Runs Towards $190

At the time of writing, Ethereum is trading up over 2% at its current price of $190, which marks a notable climb from its daily lows of $184 that were set during a fleeting sell off experienced by the cryptocurrency yesterday.

It is important to note that Ethereum is currently pushing up against the price level at which it was rejected at in late-October, which sparked a sell-off that sent it down to the lower-$180 region.

This upwards movement has come about while Bitcoin continues to trade sideways in the lower-$9,000 region, which is squarely…

[ad_2]

Source link