ETHUSD Outlook
the price has reversed from the $1,785 level aggressively and is down towards the $1,552 level. In this situation, the $1,689 and $1,722 levels will now act as technical resistance for the bulls. The next bearish targets are seen at $1,242 and $884
Ethereum had previously dropped from highs of $2,031 through lows of $1,423, carving out meaningful losses as seen on the 4-hour chart here. A pullback rally is expected after that, potentially reaching up to $1,750 and the $1,800-10 area before the price turns lower again. The bulls have managed to generate a corrective wave and pushed the price up to around $1,800.
Ethereum bears may be interested in regaining control from here or after hitting $1,800-10 in the near term. Also, notice that the price has tested the resistance line.
Ethereum had previously dropped from highs of $2,031 through lows of $1,423, carving out meaningful losses as seen on the 4-hour chart here. A pullback rally is expected after that, potentially reaching up to $1,750 and the $1,800-10 area before the price turns lower again. The bulls have managed to generate a corrective wave and pushed the price up to around $1,800.
Ethereum bears may be interested in regaining control from here or after hitting $1,800-10 in the near term. Also, notice that the price has tested the resistance line.
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