Nov 16, 2019 at 17:45
Ethereum Sinks after Rejection from Its Tight Consolidation
Recently, the bears broke the dominance of the bulls as the price dropped to a low at $180.In October and up till November 13, the bulls had consistently tested the resistance zone to break it but were unsuccessful. At a time, we were thinking that Ethereum is nearing a breakout point but the coin extended its period of consolidation.
Nov 11, 2019 at 12:21
Ethereum Continues to Range at the Bottom as It Faces Price Rejection at $195
Yesterday, ETH moved up to $192 but pulled back. At other times, the price will reach the $195 resistance level and retrace back to the $180 support level. This has been the scenario in October. Ethereum is facing price rejection at a higher price level because of a lack of buying power.
ETH Moves in Sideways Trend as We Wait for Market to Break the Range
The Ethereum price has been stagnant above $180 for the past two weeks as the price fails to break the range-bound zone. Currently, the upward move has been insignificant as the price moves only by 3.33% higher. The bulls have tried to penetrate the upper price range but were repelled after each trial. After each resistance, the price will fall to the low above $180.
ETH Trades between $160 and $200, as Bulls and Bears Reach Equilibrium
ETH’s failure to bounce has compelled the market forces to reach equilibrium. Recently, the $160 as well as $200 has been tested twice on two occasions. Yet the coin persists to operate in a sideways trend as the critical levels remain unbroken. ETH is encountering difficulty at the $200 after failing to triumph over it on four occasions.