IntoTheBlock: Ethereum faces critical resistance at $3,500
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Odaily Odaily News IntoTheBlock published an article stating that Ethereum faces key resistance at $3,500. Since July 16, Ethereum (ETH) has been struggling to break through the $3,500 resistance level. One of the main factors causing this challenge is that 3.13 million addresses bought ETH at an average price of $3,547. These addresses are in a loss-making holding state, increasing selling pressure and making it difficult for ETH to break through this key level.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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