RATE Group | Ethereum on the Cusp of Capitulation as Top Traders Eye a Move to Key Support
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Ethereum on the Cusp of Capitulation as Top Traders Eye a Move to Key Support

04 Apr Ethereum on the Cusp of Capitulation as Top Traders Eye a Move to Key Support

Posted at 21:47h in Ethereum News by

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Ethereum has been closely tracking Bitcoin’s price action over the past day, which has led it to once again enter a consolidatory phase within the mid-$130 region. This bout of sideways trading closely follows the crypto’s recent rally that sent it surging towards its key resistance at $140.

In the near-term, analysts are noting that Ethereum is currently approaching a critical support level that must be defended if bulls want to guard against further downside.

This comes concurrently with one top trader noting that ETH appears to be highly bearish against its USD trading pair, suggesting that a capitulatory decline could be imminent in the days ahead.

Ethereum Consolidates Alongside Aggregated Crypto Market 

At the time of writing, Ethereum is trading flat at its current price of $136, which is around where it started the morning off yesterday.

ETH is currently trading down slightly from daily highs of $140 – a region that was visited on multiple occasions throughout the day…

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