Do or Die For Ethereum Bulls: Here’s What Could Trigger A Sharp Decline

There is a significant bearish trend line forming with resistance near $242 on the hourly chart of ETH/USD (data feed via Kraken). The next major resistance is near the $250 barrier, above which the bulls are likely to aim a sustained upward move towards the $262 and $265 levels.

The next major support is near the $230 level, below which the bears are likely aim a test of the $220 pivot level. Major Support Level – $235 Major Resistance Level – $242 Take advantage of the trading opportunities with Plus500 Risk disclaimer: 76.4% of retail CFD accounts lose money.

Timeline of Ethereum