Markets Technical Analysis

Will Ethereum Break Out Above Resistance?

By Valdrin Tahiri
Updated by Ryan Smith
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In Brief

  • Ethereum is trading inside a short-term parallel descending channel.

  • There is support and resistance at $220 and $237, respectively.

  • ETH/BTC has broken down from an ascending support line.

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The Ethereum (ETH) price is currently trading inside a minor support area and has shown numerous signs of weakness, all of which suggest that a short-term fall awaits. Note: This is a shorter-term analysis. For a longer-term one, click here. Trading Range On the 6-hour chart, the primary resistance and support levels for Ethereum are found at $237 and $220, respectively. The price
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Valdrin Tahiri

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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