The Price of Ethereum is dancing around a pivot point looking for direction

Ethereum price has been dancing with the 365 pivot point over and over again since August.

After surpassing it again recently we see price has tested and is bouncing as of today. This leaves us to ponder if this is finally the moment that will take price toward the prior highs?

Looking at the chart you can see it is pretty straightforward. Price has either struggling with the 365 area as a resistance or held it as a support. Problem is after it has done these things it crossed over many times as well.

You usually don't see a successful test then failure, then reclaiming of the level. It has been muddy for sure and there is a war going on between the buyers and sellers at this level for sure.

In my opinion, there will either need to be some kind of catalyst to send it one way or another. The easiest thing would be have bitcoin make a big one day move one way or the other as that will move ETH as well.

Posted Using LeoFinance ^Beta