Is The Ethereum Rally About To End?

They say that markets have memories. If it’s true, the recent rally in Ethereum ETH/USD may be about to end.

When ETH rallied and reached levels around $4,190 in May, it crashed into a wall of resistance. This was a large group of sellers who were all trying to sell ETH around the same price.

See Also: How to Buy Ethereum (ETH) • Step by Step

There was more supply than there was demand. This caused the rally to end and a sell-off followed.

If the market has a memory, it means there’s a good chance there is still a large concentration of sellers around the $4,190 level. This could cause the rally to pause before it continues. It may even put an end to it like it did in May.