Ethereum Makes Yet Another Breakout Attempt

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In Brief
  • Ethereum is facing strong resistance at ₿0.0252 and ₿0.0272

  • The price is following a very steep ascending support line and trading inside a short-term symmetrical triangle.

  • ETH/USD is trading inside a major resistance area at $245 and has been showing weakness.

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The Ethereum price is trading inside a vital resistance area. A breakout above could trigger a rapid price rise. However, the price has been showing signs of weakness lately, making a rejection more likely. Current Resistance The Ethereum price has been increasing since May 14, following a very steep rising support line. At the time of writing, it was trading inside the ₿0.0252

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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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