It looks like Ethereum (CRYPTO:ETH) will continue to consolidate in the near term.
Securities tend to make rapid and large moves higher after they break resistance levels. At these levels, there are large groups of sellers. If the level “breaks,” it means these sellers have finished.
With this large amount of supply off the market, buyers will need to pay higher prices. This is what causes rallies.
See Also: Here’s Why JPMorgan Believes Ethereum Will Continue…
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