Crypto News – Ethereum Price Bounces Again But Touching These Levels Could Trigger A Sell Off
Sara Hague
1 min read
Crypto News – Ethereum Price Bounces Again But Touching These Levels Could Trigger A Sell Off
The price of Ethereum rose again in the last 24 hours. In the last day, ETH jumped by 8%.
Thanks to this, the altcoin overcame several trading levels and has now turned them into support lines. At the time of writing, altcoin was quite bullish.
The coin is up more than 20% in just one week, making the price action bullish. Ethereum’s technical outlook was also leaning bullish as demand for the altcoin became strongly positive at the time of writing.
As a consequence, purchasing power has also become optimistic at the time of writing. Ethereum can only reach the $1,700 resistance mark if the bulls can keep the price above Ethereum’s immediate resistance mark.
If the bulls weaken, the coin could start trading near the $1,500 price zone again. The coin could witness a sell-off at the $1,690 resistance mark.
If the bulls manage to overcome the $1,690 level, it could be the start of a broader trend change. For Ethereum, buying strength and the strength of the market as a whole remains important.
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