{"id":419515,"date":"2020-03-30T18:00:54","date_gmt":"2020-03-30T18:00:54","guid":{"rendered":"https:\/\/wncen.com\/?p=419515"},"modified":"2020-03-30T16:59:24","modified_gmt":"2020-03-30T16:59:24","slug":"ethereum-is-nearing-a-make-or-break-level-rejection-here-could-be-dire","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-is-nearing-a-make-or-break-level-rejection-here-could-be-dire\/","title":{"rendered":"Ethereum is Nearing a Make or Break Level; Rejection Here Could Be Dire"},"content":{"rendered":"

After facing an intense selloff yesterday that led Bitcoin, Ethereum, and virtually all other major altcoins to post some intense losses, the aggregated market has been able to recover slightly today, being led higher by BTC.<\/p>\n

This upwards momentum has led ETH to rapidly approach a key resistance level that bulls may struggle to surmount in the near-term.<\/p>\n

Multiple analysts are now noting that it is a strong possibility that the crypto sees a violent rejection at this level, which could lead it to see a capitulatory decline towards the support that has been established around $100.<\/p>\n

Ethereum Rallies Past $130 as Market Rebounds, But Key Resistance Fast Approaches<\/strong><\/h2>\n

At the time of writing, Ethereum<\/a> is trading up just over 2% at its current price<\/a> of $132, which marks a notable climb from daily lows of $125 that were set yesterday in tandem with Bitcoin\u2019s decline to $5,800.<\/p>\n

From this point, ETH has been able to garner some decent upwards momentum, although this has shown some signs of stalling after it touched its daily highs of $133 just a few hours ago.<\/p>\n

TraderXO \u2013 a popular cryptocurrency trader on Twitter \u2013 explained in a recent tweet that he believes Ethereum will climb higher in the hours ahead if Bitcoin is able to push up towards $6,600, although he believes this movement will be followed by a strong retrace down towards $106.<\/p>\n

\u201cETHUSD: If btc kicks on to 65s – 66s then expecting ethusd to follow. Run some local highs, enter on the rejection, blue arrows,\u201d he explained.<\/p><\/blockquote>\n

https:\/\/twitter.com\/TraderX0X0\/status\/91031555<\/p>\n

Analysts Agree: A Rejection at Resistance Will Be Dire for ETH<\/strong>\u00a0<\/strong><\/h2>\n

Other traders have offered a similar sentiment to TraderXO, with one noting<\/a> that $136-138 is the key level that bulls must surmount if they want to catalyze a movement<\/a> up towards $159. He further notes that a rejection here, however, will likely lead the crypto towards $100.<\/p>\n

\u201cETH: On the BTC pair: Nothing changed, still in between levels. Flipping 0.022 would make me somewhat bullish. On the USD pair: approaching resistance. Breaking and flipping $136-138 and we can target $159. Rejecting -> Targeting $103-105.\u201d<\/p><\/blockquote>\n

\"Ethereum\"
Image Courtesy of Crypto Micha\u00ebl<\/figcaption><\/figure>\n

It does appear that where major altcoins like Ethereum trend in the near-term will be partially dependent on Bitcoin\u2019s price action, but it still remains unclear as to whether the resistance ETH faces<\/a> in the upper-$130 will be insurmountable.<\/p>\n

Featured image from Shutterstock.<\/pre>\n","protected":false},"excerpt":{"rendered":"
After facing an intense selloff yesterday that led Bitcoin, Ethereum, and virtually all other major altcoins to post some intense losses, the aggregated market has been able to recover slightly today, being led higher by BTC. This upwards momentum has led ETH to rapidly approach a key resistance level that bulls may struggle to surmount in the near-term. Multiple analysts are now noting that it is a strong possibility that the crypto sees a violent rejection at this level, which could lead it to see a capitulatory decline towards the support that has been established around $100. Ethereum Rallies Past $130 as Market Rebounds, But Key Resistance Fast Approaches At the time of writing, Ethereum is trading up just over 2% at its current price of $132, which marks a notable climb from daily lows of $125 that were set yesterday in tandem with Bitcoin\u2019s decline to $5,800. From this point, ETH has been able to garner some decent upwards momentum, although this has shown some signs of stalling after it touched its daily highs of $133 just a few hours ago. TraderXO \u2013 a popular cryptocurrency trader on Twitter \u2013 explained in a recent tweet that he believes Ethereum will climb higher in the hours ahead if Bitcoin is able to push up towards $6,600, although he believes this movement will be followed by a strong retrace down towards $106. \u201cETHUSD: If btc kicks on to 65s – 66s then expecting ethusd to follow. Run some local highs, enter on the rejection, blue arrows,\u201d he explained. https:\/\/twitter.com\/TraderX0X0\/status\/91031555 Analysts Agree: A Rejection at Resistance Will Be Dire for ETH\u00a0 Other traders have offered a similar sentiment to TraderXO, with one noting that $136-138 is the key level that bulls must surmount if they want to catalyze a movement up towards $159. He further notes that a rejection here, however, will likely lead the crypto towards $100. \u201cETH: On the BTC pair: Nothing changed, still in between levels. Flipping 0.022 would make me somewhat bullish. On the USD pair: approaching resistance. Breaking and flipping $136-138 and we can target $159. Rejecting -> Targeting $103-105.\u201d It does appear that where major altcoins like Ethereum trend in the near-term will be partially dependent on Bitcoin\u2019s price action, but it still remains unclear as to whether the resistance ETH faces in the upper-$130 will be insurmountable. Featured image from Shutterstock.<\/p>\n","protected":false},"author":499,"featured_media":419518,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[6664,65296,8686],"class_list":["post-419515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-crypto","tag-ethbtc","tag-ethusd"],"acf":[],"yoast_head":"\nEthereum is Nearing a Make or Break Level; Rejection Here Could Be Dire<\/title>\n<meta name=\"description\" content=\"Multiple analysts are now noting that it is a strong possibility that Ethereum sees a violent rejection at this level, which could lead it to $100\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/ethereum\/ethereum-is-nearing-a-make-or-break-level-rejection-here-could-be-dire\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum is Nearing a Make or Break Level; 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