Can bulls hold the rate of ETH above the $1,600 mark? crypto Ethereum ETH $ETH cryptoexchange VitalikButerin ethereum
If buyers want to get back in the game, they need to restore the price to at least $1,650 to see a potential breakout.On the daily time frame, the rate of Ethereum has made a false breakout of yesterday's low at $1,631.
If the candle closure happens far form that mark, there is a probability of seeing a local upward move to the $1,660 mark. Such a scenario is relevant until the end of the week.From the midterm point of view, the rate of Ethereum has approached an important zone of $1,600. If the breakout of it occurs, the midterm decline is likely to continue to the $1,400-$1,500 area.
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