ETH on HUOBI dumps - but Ethereum 2.0 on the way!
Ethereum would need to avoid a fall through the pivot level at $590.23 to support a run at the first major resistance level at $630.46.
Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high of $611.43.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of another breakout, Ethereum could test resistance at $650 before any pullback. The second major resistance level sits at $651.66.
Failure to avoid a fall through the $590.23 pivot would bring the first major support level at $569.03 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$550 levels. The second major support level sits at $528.80.
Looking at the Technical Indicators
First Major Support Level: $569.03
Pivot Level: $590.23
First Major Resistance Level: $630.46
23.6% FIB Retracement Level: $486
38.2% FIB Retracement Level: $409
62% FIB Retracement Level: $283
Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high of $611.43.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of another breakout, Ethereum could test resistance at $650 before any pullback. The second major resistance level sits at $651.66.
Failure to avoid a fall through the $590.23 pivot would bring the first major support level at $569.03 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$550 levels. The second major support level sits at $528.80.
Looking at the Technical Indicators
First Major Support Level: $569.03
Pivot Level: $590.23
First Major Resistance Level: $630.46
23.6% FIB Retracement Level: $486
38.2% FIB Retracement Level: $409
62% FIB Retracement Level: $283
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