- Ethereum is trading 1.65% lower today after breaking a trendline.
- On Saturday Bitcoin broke out but Ethereum rejected 200.00.
Ethereum broke a trendline that originated back in June and has now consolidated.
The RSI indicator has also broken higher which is indicated by the red trendline break,
The RSI is now about the 50 mid-line which also indicates some bullish momentum.
On the other side of the argument, the 200.00 psychological resistance level held firm.
The bulls will need some momentum to take out the aforementioned level.
Now there is a base pattern forming between 152.11 and 199.50.
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