If ETH ‘pullback continues,’ a $3K retrace remains in play — Analyst
Crypto analyst Rekt Capital says that Ether could keep consolidating between the $3,000 and $4,000 range, though a pullback to the lower $3,000s remains a possibility following its 10% fall over the past seven days.
Ethereum’s price may remain range-bound between two key psychological levels in the near term as it continues to face difficulty holding above the $4,000 price level, according to a crypto analyst.
“Ethereum continues to struggle with the psychological resistance of $4000,” pseudonymous crypto trader Rekt Capital said in a Dec. 20 market report. Over the past 30 days, Ether has climbed above $4,000 several times, with a peak of $4,077 on Dec. 6, but hasn’t been able to hold the price level, according to CoinMarketCap data.
Rekt said that $3,000 has now become “psychological support,” for Ether (ETH), a level that Ether last touched on Nov 9. Before that, Ether had been trading below $3,000 since Aug. 3.
Go to Source
Author: Ciaran Lyons
