ETHEREUM IS NEARING CRUCIAL RESISTANCE; REJECTION HERE COULD SPARK MOVE TO $300

ETHEREUM IS NEARING CRUCIAL RESISTANCE; REJECTION HERE COULD SPARK MOVE TO $300

Gate Trade News Wednesday, September 16, 2020 14 0

Ethereum’s price is currently struggling to surmount some heavy resistance, which has caused it to lag behind Bitcoin today

 

This resistance, which exists at $380, has hampered its price action on multiple occasions throughout the past few weeks

 

Despite this, because BTC is now nearing $11,000, a break above this crucial level will likely catalyze some intense buying pressure that also creates a tailwind for ETH

 

One analyst noted that this region of resistance between $385 and $410 might have some serious impacts on Ethereum’s mid-term trend

 

He notes that while a break above this level would be significant, a rejection here could be enough to send it spiraling below $300