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Ethereum Technical Analysis: $1700 It Couldn’t Pass!

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Ethereum, in second place behind the leading cryptocurrency, is back in action to test the resistance of $ 1700, which it could not pass. Ethereum, which could not close above the $ 1700 level for about two months, approached $ 1800 two days ago but could not continue this rise and fell below the $ 1700 resistance zone. ETH, which started trading at $ 1704 yesterday, faced a hard sell and closed the day at $ 1656 with a decrease of 2.81%. The selling pressure on Ethereum will continue unless there are closes above the $1700 level.

Ether, which started at the $ 1656 level, is trading at $ 1667, with an increase of 0.65% at the time of writing.

Ethereum Technical Analysis: $1700 It Couldn't Pass!

Ethereum Chart Analysis

Stuck in the $1500-1700 band for about two months, Ether cannot close above the $1700 level. Although Ethereum, which faces sales every time it reaches the $1700 level, seems to test this region again, the most important thing is whether it can stay in it. The selling pressure on Ethereum will increase unless we can close above $1700. Therefore, while the $1700 level is our resistance zone, $1643 EMA5 and $1599, EMA21 are our first support levels if we experience a possible pullback.

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.

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