✴️ Ethereum - Technical Analysis
Ethereum did not get a chance to attack the $ 4,500 resistance and corrected; It is currently trading above $ 4,150 and is likely to try to climb again shortly.
Ethereum failed to open the way above $ 4,400, and a new fall began. This was followed by the collapse of the support level of $ 4,320 at some point.
ETH also fell below $ 4,250 and the 100-hour moving average; But in the $ 4,150 support range, the decline finally stopped with the arrival of cows. After sitting on the floor, $ 4,152 rose again and overcame the resistance of $ 4,200.
Ethereum is now back above the 23.6% Fibonacci retracement level of the recent fall from $ 4,393 to $ 4,152. The nearest resistance level upstream is around $ 4,250.
The 50% Fibonacci level is also around $ 4,270; the moving average line can also be seen. The ETH / USD's hourly chart shows a large bearish channel with a resistance of around $ 4,300.
The ascent and closing of the candlestick above this resistance level, which plays a key role, will pave the way for the beginning of an integrated ascending movement. In this case, Ethereum is likely to rise to $ 4,400. The cows will then be encouraged to attack the next key obstacle in the $ 4,550 range.
But if it cannot cross the resistance levels of $ 4,300 and $ 4,320, there is a possibility of a bearish correction. In this case, the nearest downstream support level is around $ 4,200.
Below, the $ 4,150 range and recent price floor are key support. Violation of it will lead to atrial fibrillation (ETH) and an increased risk of falling from $ 4,000 psychological support.
Ethereum failed to open the way above $ 4,400, and a new fall began. This was followed by the collapse of the support level of $ 4,320 at some point.
ETH also fell below $ 4,250 and the 100-hour moving average; But in the $ 4,150 support range, the decline finally stopped with the arrival of cows. After sitting on the floor, $ 4,152 rose again and overcame the resistance of $ 4,200.
Ethereum is now back above the 23.6% Fibonacci retracement level of the recent fall from $ 4,393 to $ 4,152. The nearest resistance level upstream is around $ 4,250.
The 50% Fibonacci level is also around $ 4,270; the moving average line can also be seen. The ETH / USD's hourly chart shows a large bearish channel with a resistance of around $ 4,300.
The ascent and closing of the candlestick above this resistance level, which plays a key role, will pave the way for the beginning of an integrated ascending movement. In this case, Ethereum is likely to rise to $ 4,400. The cows will then be encouraged to attack the next key obstacle in the $ 4,550 range.
But if it cannot cross the resistance levels of $ 4,300 and $ 4,320, there is a possibility of a bearish correction. In this case, the nearest downstream support level is around $ 4,200.
Below, the $ 4,150 range and recent price floor are key support. Violation of it will lead to atrial fibrillation (ETH) and an increased risk of falling from $ 4,000 psychological support.
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