Ethereum · Bitcoinist
Ethereum Bears Keep Control As ETH Rejects Trendline Resistance
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Ethereum’s latest rebound has not yet convinced all analysts that the downtrend is over.
Key facts
- The important support area, according to the idea, sits between $1,350 and $1,500
- This article was written by the News Desk and edited by Samuel Rae
- The analyst’s chart shows ETH rejecting a confluence area made up of the falling trendline and a horizontal structure zone
- A controlled pullback into that range could produce another reaction, but a decisive break below it would make the broader ETH structure look much weaker
Summary
ETH is rejecting a confluence zone formed by trendline resistance and structure resistance. $1,350–$1,500 remains the major support area to watch. The analyst’s chart shows ETH rejecting a confluence area made up of the falling trendline and a horizontal structure zone. The important support area, according to the idea, sits between $1,350 and $1,500.