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About the BIS Innovation Hub Bank for International SettlementsMounting Resistance Signals Ethereum Could Soon See Brutal Selloff - newsBTC
Bitcoin and the crypto market have been firmly caught in the throes of immense volatility over the past several days and weeks, with Bitcoin’s sharp swings leading altcoins like Ethereum to follow suit and incur some notable volatility. Ethereum, which recently experienced a strong upswing, has erased a portion of these recent gains, and is now entering what appears to be a bout of sideways trading. One analyst is noting that ETH was able to tap its key high-time-frame resistance at $150 in the course of its recent rally, with its firm rejection here being a grave sign of what’s to come next. Ethereum Sheds Some of Its Recent Gains as Crypto Market Enters Consolidation Phase At the time of writing, Ethereum is trading down just under 7% at its current price of $132, which marks a notable decline from daily highs of over $150 that were set at the peak of the crypto’s recent upswing. This rally first began on Thursday afternoon and marked a resolution to the extended bout of sideways tr...
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