The past few days of trading have seen ETH/USD falter as speculative resistance has proven durable and an erosion of value threatens again.
ETH/USD is trading near important support levels and speculative zeal looking for upside may be running out of power. After hitting a high of nearly 1275.00 on the 8th of July, the past few days of trading for Ethereum has seen the cryptocurrency taken a hit and as of this morning ETH/USD is trading near 1145.00 as of this writing.
Speculative Zeal in Question after Failure to Sustain Values this Weekend
A speculative flurry across the board within the major cryptocurrencies began to falter before heading into last weekend, and trading early today has continued to see ETH/USD, among others, fail to reverse higher. Within the depths of the long-term bearish trend that has been pounding away at the value of ETH/USD, traders could not be blamed for believing last week may have been the beginning of an upwards turnaround. However, behavioral sentiment within ETH/USD has yet to prove that it has the capability to produce a significant move higher which will overcome resistance levels easily.