๐ฅ Ethereum On Key Resistance: Bears Are Watching ๐จ
In my most recent ETH analysis I took a look at the long-term rising wedge pattern that has been playing out on the ETH chart since early 2017.
I noted that the break out occurred, and could potentially lead to more selling. However, now that I switched to a bullish view of the market (because of the BTC break out), I think it's likely that ETH will go up as well.
However, bears are closely watching this resistance (previous support). If the ETH bears want to push through, now is the time. Once we're above this resistance, we're likely back in full bullish territory.
Bitcoin needs to push through in order for ETH to go up as well. Watch this resistance closely, since I'm expecting a break out rather soon.
I noted that the break out occurred, and could potentially lead to more selling. However, now that I switched to a bullish view of the market (because of the BTC break out), I think it's likely that ETH will go up as well.
However, bears are closely watching this resistance (previous support). If the ETH bears want to push through, now is the time. Once we're above this resistance, we're likely back in full bullish territory.
Bitcoin needs to push through in order for ETH to go up as well. Watch this resistance closely, since I'm expecting a break out rather soon.
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