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Transcript:
0:00:00 Ethereum Fails to Break Above Critical BTC Resistance Level
0:00:04 This update is brought to you by "CoinCheckup News Updates" and was originally published on "NewsBTC".
0:00:10 Ethereum and the aggregated crypto markets have been able to incur some tempered bullishness today after facing notable selling pressure over the past couple of days, but analysts are still weary of where ETH and other altcoins will head in the near-term.
0:00:23 Importantly, one prominent analyst is noting that Ethereum has failed to break above the critical resistance level that lies directly above its price, which could mean that significantly further losses against its BTC trading pair are imminent.
0:00:36 At the time of writing, Ethereum is trading down marginally at its current price of $184.40, which marks a slight climb from its daily lows of $180 that were set yesterday as the aggregated crypto market expressed significant weakness.
0:00:51 In the near-term it is imperative that bulls push the cryptocurrency higher, as it appears that $183 is its critical near-term support level, with a break below this level potentially leading it to drop significantly lower in the near future.
0:01:05 “$ETH: The re-test mentioned yesterday under progress right now.
0:01:09 We fail this then $183, followed by $174. Should this fail, the Usd pairing of alts will drop also,” she noted while pointing to the below chart.
0:01:20 It is important to note that Ethereum has failed to move above its key near-term resistance level, which could mean that bears currently have the upper hand over bulls.
0:01:29 Teddy, another popular cryptocurrency analyst on Twitter, explained in a recent tweet that he believes that ETH may drop significantly lower in the near-term if it fails to break above its near-term resistance level that has held strong for the past several months.
0:01:43 Thanks for checking out this video!
If you wanna read the whole article you can go to CoinCheckup.com or go to: "NewsBTC", who originally published this news update on their website.
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