RATE Group | Ethereum Rally Stopped at $145 Resistance; Another Bearish Retest?
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Ethereum Rally Stopped at $145 Resistance; Another Bearish Retest?

07 Jan Ethereum Rally Stopped at $145 Resistance; Another Bearish Retest?

Posted at 18:14h in Ethereum News by

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Crypto markets lit up yesterday, with Ripple’s XRP leading the charge with an over 12% gain on the day. The buzz around the crypto industry caused other assets to take off, including the first-ever cryptocurrency Bitcoin, and the number two cryptocurrency by market cap, Ethereum.

Ethereum’s rally, however, was stopped abruptly at overhead resistance at $145 – a critical resistance level that must be breached for price action to become bullish. Was the rejection at this level just another bearish retest, or will Ethereum finally break out and surge?

Ethereum Rallies, But Pauses at Bearish Breaker at $145

Ethereum price has been suffering for the last two years straight. Nearly two years ago on this exact day, Ethereum reached an all-time high price of $1,400. Now, the cryptocurrency is trading at prices 90% lower than that.

Related Reading | Crypto Comeback: After Two Years of Bear Market, Bitcoin Crypto May Be Ready To Rebound

Right now, the number two crypto asset is trading at…

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