Critical Level In Ethereum: Where Is The Direction In ETH Price?
The price action of Ethereum (ETH) is very closely related to Bitcoin (BTC), and this caused the biggest altcoin to see a consolidation wave.Breaking the $ 380 critical resistance the other day, ETH managed to show an incredibly strong move. This level had become a very important level for Ethereum over the past few months. This is why this level and a break above this level have serious technical importance.
However, ETH also seems quite difficult to stabilize above this level. Because with the current level becoming support, a potential jump in ETH seems highly likely.After this level, the next critical level to break is $ 400. Because the $ 400 level has also been a strong resistance for a long time. During the day, we can say that ETH continued its horizontal trade. For ETH, which is the second largest crypto in terms of market value, exceeding the current level is a significant resistance level, so it is important for ETH to consolidate at this level and continue its horizontal trade.
With this level remaining strong, the bulls will soon move ETH to $ 400. A popular analyst claims that there is a break above this level and ETH will see much more appreciation in the coming days.Ethereum (ETH) is trading at $ 383 as of writing.
Due to the upcoming US presidential elections and the coronavirus epidemic, there is still uncertainty in all markets. Despite this uncertainty, it seems highly likely that ETH, which has exceeded key resistance levels, will perform much better in the coming days.