Did everyone have some fun the past 48 hours with the crypto move? If ETH is your favorite coin then maybe it wasn’t all that fun.
Failed Breakout
Ethereum did make a push and even pressed through it’s big resistance level. However, unlike BTC and LTC it did not maintain and level up.
Looking at the chart in this post you can see ETH blasted through, well maybe blasted isn’t the right word, it pushed through the 168 area resistance, but unfortunately could not close above it and came tumbling back down with the rest of the market in last night’s profit taking bonanza.
So there it was, closing the candle below the resistance, just a brief tease to all the ETH hodlr’s.
I actually sold some in the low 160s anticipating resistance and felt like a big dope for a few hours there.
Ethereum is going to need another push out of the market to break through that resistance are and level up because its price action is showing relative weakness to its peers.
Just my opinion though, happy trading!
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