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Ethereum Technical Analysis: Ethereum Again On Averages

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Ethereum, which is in second place behind the leading cryptocurrency, continued to experience pullbacks led by Bitcoin. Unable to close above the $1700 resistance level, Ethereum went down with the selling pressure it faced. Preparing to break the averages down, Ethereum displayed a strong stance by taking its place on the averages again with the effect of the purchases in Bitcoin. Ethereum, which started the day at $ 1634 again with selling pressure, saw its lowest at $ 1597 and closed the day at $ 1605 with a decrease of 1.77%.

Starting the new day with fast purchases like Bitcoin, Ethereum is currently trading at $ 1656 with an increase of 3.20%.

Ethereum Technical Analysis: Ethereum Again On Averages = Daily Token News

Ethereum Chart Analysis

Ethereum, which could not close above the $ 1700 resistance, showed a pullback with Bitcoin. Having experienced a 10% pullback in four days, Ethereum has been consolidating in a narrow area for the past few days. Investors are smiling in Ethereum, which has settled on the averages again with today’s purchases. While the $1700 level is our resistance zone again for today, if we experience possible pullbacks, $1634, which is EMA5, and $1626, which is EMA21, are the levels I will follow as our first support points.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

You might check: Will The SFC’s Proposed New Regime For Cryptocurrencies Be Aaccepted?

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