Ethereum is battling with rising selling pressure on Monday. The entire cryptocurrency market is sliding slightly lower than the recent weekly close. An impressive recovery from the primary support at $200 scaled the levels above the 50 Simple Moving Average 1-hour chart.
A break above the descending channel resistance pushed the price higher. Ethereum stepped above the 100 SMA 1-hour as well as the hurdle at $215. Unfortunately, the price hit a pause on forming a high at $216.90.
We have said that from 16 June to July 10 there was no pump and there is no dump. After 10 July the big pump happened which has changed the entire concept of death coin. Now the next pump can happen in some days. Maybe it continues from tomorrow.
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