Bitcoinist.net:

Ethereum’s price has been sliding lower over the past several days
Despite Bitcoin being able to maintain above the lower boundary of its long-held trading range, ETH is now trading firmly below the range it formed over the past several weeks
This points to some underlying weakness amongst its buyers which comes as it nears its crucial $220 support level
It also just confirmed a “death cross” formation that hasn’t been seen since March. This could cause it to post a massive decline in the coming days
One analyst is even noting that its next downtrend could lead it to as low as $120

Ethereum has been flashing signs of major technical weakness in recent days. This comes as the cryptocurrency grows incredibly strong from a fundamental perspective.
There are a few factors that are driving this weakness, including a heavy…

Click to continue reading on its source location…

Source: https://bitcoinist.com/ethereum-struggles-to-flip-crucial-trendline-as-analysts-eye-move-to-120/?utm_source=rss&utm_medium=rss&utm_campaign=ethereum-struggles-to-flip-crucial-trendline-as-analysts-eye-move-to-120