Ethereum, which has been attracting attention with its performance of around 90% since January, has also overtaken Bitcoin, which provided a 30% return over the same period. "Will Ethereum be able to make the second break?" As we mentioned in our article, there is no negative situation in the indicators, but the stagnation and indecision in Bitcoin, which dominates the market, caused some stumbling.

Technically, the jam continues. Failure to break the $ 250 level in the bullish channel and our excessive purchase may lead to profit realization towards Ethereum's horizontal bottom band, $ 235 support. For this reason, Ethereum, which is horizontal and unstable, has a weak trend for now, though the outlook is weak.

Ethereum, which continues its course on the uptrend trend that started in March, has been horizontal for the last 5 days. After the Golden Cross formation, prices started to move and put ETH on the 230-250 USDT band. Ethereum, which faced the 250 USDT psychological resistance at this point, has not yet crossed this region. In Ethereum, which moves horizontally as a result of the pressure in this region, oscillators are located in overbought regions. The presence of oscillators in these regions in the ETH, which is located on the upper part of the rising channel, may indicate that a fatigue has started. However, it should also not be overlooked that BTC is affected by market dominance. In the new positions to be entered, it will be useful to see the reaction of ETH from the 250 USDT region and to be cautious.

Resistors: 246/251/257

Supports: 236/230/217