ETH breaks out on the short term chart. Would still remain an underperformer. Ethereum, the second largest cryptocurrency by market capitalisation, has broken out of a parallel channel on the short term chart and may rally some from the current levels, but it would still remain an underperformer on the medium to long term charts compared to other major cryptos that have rallied smartly even as Ethereum struggled to stand on its feet. ETH/USD is down about half a percent at $415.876 and trading in about 1 percent range for the day. The parallel channel breakout is visible on the 120-minute charts and this breakout would be confirmed once the second largest crypto is able to cross beyond $425-$435 range, which is a resistance zone and would be tough for now. A failure to cross that zone could also result in the failed breakout, which would mean getting trapped in the channel again. Support is placed at exactly where the price is, $415 that is, high chances of this support breaking. ETH/USD 120-minute chart: FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Bitcoin price analysis: The bounce is done, now back to sub-$7,000? FX Street 5 years ETH breaks out on the short term chart. Would still remain an underperformer. Ethereum, the second largest cryptocurrency by market capitalisation, has broken out of a parallel channel on the short term chart and may rally some from the current levels, but it would still remain an underperformer on the medium to long term charts compared to other major cryptos that have rallied smartly even as Ethereum struggled to stand on its feet. ETH/USD is down about half a percent at $415.876 and trading in about 1 percent range for the day. The parallel channel breakout is visible on the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
