Ethereum has nothing good for bulls


  • Ethereum stuck in a parallel channel tilted downwards.
  • The rebounds are short-lived as the bears attack $ 100.

Ethereum, the third largest cryptocurrency by market capitalization, has struggled to revive its lost fortune as bears attack every rebound in price to bring it under $ 100 in two-digit numbers.

ETH / USD drops by half a percentage point per day to $ 112.27 and trades in less than 2% for the day. In the 240-minute chart of the crypt, since the mid-November harvest, ETH found itself stuck in a lower, lower, lower and tilted down parallel channel that led to the inability of the bulls to overcome the upper end of the channel while bears attack each rebound, making it difficult for bulls to sustain a psychologically important three-digit mark.

Once broken and sustained, the next level down is around $ 65-70. (Read the previous article here)

ETH / USD 240-minute chart:

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