Outlining Ethereum’s Long-Term Movement

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In Brief
  • Ethereum is following a descending resistance line and is facing strong resistance at $250.

  • The price has been following an ascending support line since March 12.

  • ETH/BTC is trading inside resistance at ฿0.0255

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The Ethereum price has reached an important resistance line, which has been in place since June 26. While a breakout above could trigger a rapid increase, the price seems more likely to fail and reverse its trend. Even though the price is trading at resistance, the outlook is not entirely bearish. Cryptocurrency trader @Glowto1994 outlined an Ethereum chart that shows the price

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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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