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Failure of ETH to Break Above $195 Could Mean Massive Losses Are Imminent

$195 appears to be a critical resistance level for Ethereum over the past several years, with breaks above this level catalyzing and dips below it leading it to capitulate.

HornHairs, another well-respected cryptocurrency analyst on Twitter, spoke about this level in a recent tweet, explaining that the importance of ETH’s reaction to this level should not be taken lightly. Alright let's go ahead and establish how important of a level this is here for ETH...

We've seen moves to ATH from this spot and then moves to cycle lows after it has been broken.

All that to say, this level is not to be taken lightly when price finds itself against it.