Ethereum Technical Analysis: Soon to Break Resistance

Ethereum, the second largest coin in cryptocurrencies after Bitcoin, continues consolidating with Bitcoin. Ethereum, which has retreated to the EMA55 support levels in the past days, continued its upward movement with the purchases in Bitcoin. Ethereum, which has been trying to break the $ 1700 resistance for the last six days, continues to push the resistance here, although it is experiencing pullbacks with sales from this region.

At the time of writing, it is trading at $1705 with a daily increase of 0.06%.

Ethereum Chart Analysis

Ethereum, which has experienced retreats from the $ 1700 resistance to the EMA55 level in the past weeks, has settled in this region again, especially by taking the opportunity to buy on the Bitcoin side. The purchases will accelerate, especially if Ethereum, which has not been able to close above the $ 1700 resistance for the last week, approaches this region. In possible retracements, the support levels of $1686, the EMA5, and $1626, the EMA21, can be followed daily.

Ethereum Technical Analysis: Soon to Break Resistance

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

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Vera Golubev

Vera holds a master's degree from New York University in Business and Economics, was a banker turned writer who discovered cryptocurrency, now a fintech blogger, crypto journalist, and growth marketer. She is passionate about helping startups spread the word, discover and promote great projects in the crypto and fintech industry.

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