When will ETH Make New Highs??

27 de jan. de 2021

Ethereum has retreated several levels from highs. Currently, it is finding support just above $1233, after slicing through $1320. Both of these are Fibonacci levels. The Kovach OBV is still pretty strong, so it may be able to muster the strength to return to those upper levels. Mid term, it is likely to form a consolidation pattern, testing and rejecting highs a few more times before breaking out in the long term. This however, assumes that weakness from BTC does not spill in to ETH taking it down to lower levels like $1172, $1111 or even $1035. The lower level $913 seems like a long shot, but that would be the final level and first major support level south of $1000.