2 key Ethereum price metrics suggest traders will struggle to hold the $2K support level

2 key Ethereum price metrics suggest traders will struggle to hold the $2K support level

Ether (ETH) price has been trying to establish an ascending channel since the May 12 market-wide crash that sent its price to $1,790. Currently, the altcoin’s support stands at $2,000, but the high correlation to traditional markets is causing traders to be highly skeptical s cryptocurrency market recovery. 

Ether/USD 4-hour price at Bitstamp. Source: TradingView

To date, the Federal Reserve continues to dictate the markets’ performance and uncertainty has been the prevailing sentiment…


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