As indicated on the chart, ETHUSD broke a critical mid-term resistance a couple of days ago decisively. However, the sudden rise of BTCUSD took steam out of ETHUSD.
There seems to be currently another attempt at breaking the previous high. The situation is very fluid. If ETHUSD finally breaks the resistance zone, it could test $380-$400 levels. On the other hand, if it fails this third attempt, chances are that short-term confidence will be depleted, and it will find support around the long-term support zone.
There seems to be currently another attempt at breaking the previous high. The situation is very fluid. If ETHUSD finally breaks the resistance zone, it could test $380-$400 levels. On the other hand, if it fails this third attempt, chances are that short-term confidence will be depleted, and it will find support around the long-term support zone.
