Latest News

Ethereum Recovers the $2,000 level

Ethereum’s losses continued below the critical $2,000 support level. Before the bulls took a position near the $1,700 level, ETH smashed the $1,800 mark.

Near $1,700, a bottom marks, and the price began to rise again. The $1,800 and $1,900 resistance levels were clearly broken. On the hourly chart of ETH/USD, a break over a strong negative trend line with resistance near $2,000.

The price of Ether is currently slightly above the 50% Fib retracement level of the crucial slide from the $2,450 swing high to the $1,700 low. It remains, however, below $2,150 and the 100 hourly simple moving average.

The $2,150 level is the first big resistance. The biggest resistance is currently forming near $2,200. It’s around the 61.8 percent Fib retracement level of the crucial slide from the swing high of $2,450 to the low of $1,700. A closing above $2,200 might pave the way for a significant gain.

In this scenario, the price of ether could soar to the $2,400 resistance level. A possible intermediate resistance level is at $2,350.

New decline Ethereum levels?

If ethereum fails to break through the $2,200 resistance, it may resume its downward trend. On the downside, $2,000 serves as an initial support level.

The next significant support level is at $1,870. A closure below $1,870 might relaunch the decline. In the above scenario, the price might drop to around $1,700. In the short term, strong support might be seen at $1,620 and $1,600.

Related Posts – The Indian Finance Minister hails blockchain technology

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.