Ethereum Faces Stiff Resistance, Bears Threaten to Short

Despite the downtrend, ETH lacks buyers at higher price levels. Positively, if the bulls are successful above $140 resistance and price is sustained, Ether will rise and reach a high of $200.

Surprisingly, despite upward moves above the $140 resistance, the bulls face severe selling pressure as the market retraces back to the previous level. Ethereum will need buyers at higher price levels to sustain the upward movement.

Timeline of Ethereum