Analysts Believe Ethereum Faces Possible Bearishness in Near-Term as Bitcoin Strengthens

Ethereum (ETH) has had a very positive past few months, putting a significant amount of distance between its current price levels and its year-to-date lows, which currently exist below $100.

Despite this, Ethereum is continuing to face strong resistance around its current price levels, and analysts believe it may soon incur a sudden influx of selling pressure despite there being strength in the aggregated crypto markets.

Ethereum Faces Resistance Around $270 As Buying Pressure Slows Down

At the time of writing, Ethereum is trading up over 1% at its current price of $267.8 and is up slightly from daily lows of $263.

Ethereum has been consolidating for the past month, ranging between roughly $230 and $280, with the former level being a strong region of support, and the latter price being a strong level of resistance.

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