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  • ETH fails to cross beyond its major resistance.
  • Consolidating after retracing, small chance of a bounce again.

Ethereum, the second largest cryptocurrency by market cap, has given up its chance to regain the momentum after gaining more than 65 percent last month as the prices collapsed like nine pins in last one week, although recent consolidation has still kept some hopes alive.

ETH/USD is down just under 1 percent on day at $134.99 at middle point of day’s range which is less than 2 percent – good sign of stability and consolidation after the coin has given up more than 20 percent from the February high.

After the crash, ETH made a low of $127.73, exactly above the 61.8 percent retracement level of the entire rise of February. Giving some hopes for the bulls to gain back recent gains and add on to the momentum to the rally past the double century mark.

ETH/USD 480-minute chart: