coingape.com
- Ethereum engages strong reverse gears as declines remain unstoppable.
- Investors brace for a rollercoaster as overhead pressure intensifies on account of a double-top pattern.
- Ether must regain the ground above $1,500 and association the 50 SMA to come out of the woods.
Ethereum’s recovery from the dip under $1,300 at the beginning of the week suffered rejected at $1,650 amid intense selling pressure. The bearish double-top pattern highlighted on Thursday is impacting the price, leading to ongoing losses. Several areas have been ignored, although at first, they seemed formidable enough to halt the losses.