Now the price has broken out of the short term trendline, the resistance zone is up next.
The red 9K resistance line has been significant in the past and it could be again.
Very close to that level is the 38.2% Fibonacci level which also is respected in the crypto world.
Ethereum Price Analysis: ETH/USD narrowing price action suggests of potential trouble
Ethereum price is trading in the green by 4.95% in the session on Monday.
ETH/USD is at risk of another potential fall, given the recent tight trading range.
The price has been hit by the market bears for two consecutive weeks.
Litecoin Price Analysis: LTC/USD narrowing range block subject to explosive breakout
Litecoin price is trading in positive territory by 7.50% in the session on Monday.
LTC/USD has been pushing south for two consecutive weeks, with bears in control.
The 2020 gains at risk of a reversal, which has been the case since the bearish evening star formation.
Image by WorldSpectrum from Pixabay
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