- Current Berlin court ruling nullifies previous ruling on crypto trading.
- Ethereum is flirting with $210 unable to retrace above $220.
Cryptocurrency trading has been gaining traction in Europe and especially in Germany. While many jurisdictions in Europe are struggling with regulating or not regulating cryptocurrencies, Germany has neither been too assertive nor has it taken a back it.
The recent news from the country say that a court in Berlin on Tuesday 16 ruled that trading digital assets in Germany does not require one to have a license. To that effect, trading activities are not illegal. The current ruling has overturned another ruling that was passed on the same trading issue.
Ethereum price technical picture
Ethereum is trading slightly in the negative on Tuesday. The current consolidation comes after the massive bullish retracement from last week’s support at $190. ETH/USD bottomed out during the declines on Thursday 11. The upside correction made it above $210 but hit a snag short of $220.
At the time of press, ETH/USD is trading between the moving average support and resistance with the 50SMA offering immediate support $209.86 and the 100SMA limiting the gains at alongside the bearish trendline. Ethereum is flirting with $210 but lack the momentum to recoil higher. Several support areas will come in handy to offer support at $200, $190 and $170 (over stretch).
ETH/USD 4-hour chart
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