In the last report, we believed that ETH's strong performance in Feb. would help it constitute a reversal, but when the bearish news came, no tokens in the market were spared. The dump in the past week has wiped out the previous advantage. The price has been below the confirmation level on Feb.4. There is no strong support level ahead of the previous low and the price is at risk of further decline.
Conclusion: Mostly falling. The price is controlled by the short side. Almost no one wants to open a long position in such a bearish situation. The price may test the support level(2360) these days. Like BTC, ETH’s support level at 2360 is also defensive. In the area close to the support level, the contention can become very intense. We set the resistance level at 2770.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Conclusion: Mostly falling. The price is controlled by the short side. Almost no one wants to open a long position in such a bearish situation. The price may test the support level(2360) these days. Like BTC, ETH’s support level at 2360 is also defensive. In the area close to the support level, the contention can become very intense. We set the resistance level at 2770.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.