Ethereum price just broke out of a heavy resistance zone amid much speculation with respect to its price action and where its going.
Ever since the market started going down Ethereum price took a hit as well, and over the last until earlier today, the leading altcoin was struggling against a heavy resistance near $3,400.
Even now, on its path to recovery, it remained roughly 22% lower over the past month, and still far below its all-time high near $4,953.
What Ethereum (ETH) Price Showed Near Resistance
At the time of writing, Ethereum (ETH) price was trading at $3,530.11, sporting a substantial recovery of over 4.8% within the daily timeframe. The question is whether it will stay the course.
Charts from analysts placed resistance between $3,480 and $3,550, a repeat pivot zone. Resistance meant sellers often capped rallies there, turning advances back into consolidation.
One view, shared by Lennaert Snyder, tracked consolidation just beneath the upper band. He said a clean
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