Latest News

What comes ahead for Ethereum?

Ethereum attempted to break through the resistance levels of $2,085 and $2,100. ETH, on the other hand, was unable to gain traction and created a short-term top near the $2,085 mark.

Below the $2,050 support level, there was a bearish reaction. On the hourly chart of ETH/USD, a break below a key bullish trend line with support near $2,000 was also seen. A move below the 50% Fib retracement level of the upward run from the $1,920 swing low to $2,085 high occurred.

The price of ether is currently trading below $2,000, as well as the 100 hourly simple moving average. It even tested the 76.4 percent Fib retracement line of the upward run from the swing low of $1,920 to the high of $2,085

The price is currently consolidating about $1,980. Near the $2,000 mark and the 100 hourly simple moving average is the first big obstacle. Near the $2,085 level, the biggest resistance is forming. A close above $2,085 might pave the way for a significant gain.

In this scenario, the price of Ethereum could surge to the $2,150 resistance level. Any further increases might push it closer to the critical $2,200 resistance zone.

More Ethereum losses?

If ethereum fails to break over the $2,000 resistance level, it may continue to fall. On the downside, $1,960 is a first support zone.

The next major support is seen near $1,920. A closure below $1,920 might relaunch the decline. So, In the above scenario, the price could drop to around $1,900. Lastly, In the short term, strong support could be found at $1,800 and $1,780.

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.