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Ethereum Technical Analysis: The $1700 Resistance Zone Is In Play Again

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Ethereum, which has not been able to exceed the $ 1700 level for months, has increased incredibly in three days and again came to the $ 1700 resistance zone. Having faced losses for three weeks, ETH returned to the resistance zone by meeting the losses it had experienced in just three days. Ethereum, which started the day at a $ 1592 level, closed at $ 1579 with an increase of 5.56%, with the pullback after seeing the highest level of $ 1700.

Ethereum, which started at the $ 1680 level, is trading at $ 1570, with a decrease of 0.55% at the time of writing.

Ethereum Chart Analysis

Ethereum Chart Analysis

Ethereum, which has not been able to close above the $ 1700 resistance level for weeks, has risen to $ 1700 with the rise it has experienced in the last three days. For almost the last two months, Ethereum, which has faced selling pressure every time it rises to $ 1700, experienced a pullback in this region and closed the day at $ 1679. The $1700 resistance level is still the first resistance zone we should follow for now. In possible retracements, our initial support levels are $1606, which is EMA5, and $1583, which is EMA21.

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

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