Can ETH hold the $1,600 mark? crypto Ethereum ETH $ETH cryptoexchange VitalikButerin ethereum
The rate of Ethereum has gone down by 18.23% over the last week.
On the local time frame, Ethereum has bounced off the $1,628 level. If buyers can't seize the initiative, there is a high chance to see a test of theOn the daily chart, Ethereum is located in the middle of the narrow range between the support at $1,524 and the resistance at $1,655. Currently, neither side has accumulated enough power for a sharp move. Respectively, sideways trading around the mentioned levels is the more likely scenario for the upcoming week.
From the mid-term point of view, Ethereum has made a false breakout of the support level at $1,560. Until the price is above it, bulls have a chance for an upward move. In addition, the selling volume is low, which means that bears are running out of strength.
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