Ether Price Analysis: Historic Support Tested Amid Signs of Distribution

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Its been weeks since ether has seen a new high or a new low and the market has found itself range-bound. At the moment, we are seeing signs of distribution as large rounds of selling have remained present during key support tests:

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Figure 1: ETHUSD, 4 Hour Candles, Trading Range

So far, for the last few weeks, ether has seen a trend of higher lows and low highs (the converging red trendlines). The three arrows shown above display the presence of heavy selling pressure (supply) and, so far,…

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