ETH held up above the $250 level during the overnight decline, and it showed relative strength today compared to BTC, as it didn’t hit a new low in early trading.
ETHBTC 5M on Bitfinex
The coin is also above the weekend lows, and although we still expect a dip below $250 before the end of the correction, the strength should be encouraging for bulls, and a durable new low in the currency is not likely. Below $250, more support is found at $235, while primary resistance is at $285.
The coin is also above the weekend lows, and although we still expect a dip below $250 before the end of the correction, the strength should be encouraging for bulls, and a durable new low in the currency is not likely. Below $250, more support is found at $235, while primary resistance is at $285.