Ethereum fell to support on a high-volume candlestick on tuesday. This is indicative of a selling climax which may give rise to a new bullish trend. The key question is whether support can hold. It has held above for two closing candlesticks thus far which is a strong sign. However, it is yet to make any significant progress to the up side.
A reversal here has the potential to take the price up to $280+ again, but would need to break through multiple short-term resistance levels first.
A reversal here has the potential to take the price up to $280+ again, but would need to break through multiple short-term resistance levels first.