Ethereum Holds Crucial Support, Retests $1,700 Resistance

[Sharpmax]

Yesterday, Ethereum bulls were retesting the $1,700 high to break above it. The upside momentum was weak as bulls failed to break above the recent high.

A breakout above the $1,700 high will allow buyers to retest or break the $2,000 overhead resistance. Nevertheless, buyers and sellers are still struggling for price possession below $1,700 high. Assuming, the bears have the upper hand, they will break the $1,400 support. This will cause Ether to fall into a deeper correction. Meanwhile, Ether is making an upward move after its rejection at the $1,700 high. The upside momentum will resume if price breaks level $1,700. Otherwise, the cryptocurrency will be compelled to a range-bound move. Source link