Technical analysis and current support-resistances of Ethereum, the second largest cryptocurrency in the cryptocurrency market.
In the last 30 days close to 32% The depreciating Ethereum seems to have rebounded a bit. Approx. Ethereum up 45%at the time of writing 1217 traded in dollars.
From the bearish zone on Ethereum’s 4-hour chart high peaks and high lows is progressing. Ethereum, which is in an uptrend according to the short-term chart, falls below the trend it broke or has a previous low. The level of 1035 dollars If it falls below it again, it is thought that the decline will accelerate.
The target of the reverse shoulder-head-shoulder (TOBO) formation on the chart is approximately If there are levels of 1650 dollars Even there are two big resistances in front of him.
The cryptocurrency, which was traded below the peak of the bull season in 2017, returned to that region. likely to react looks. Ethereum, which has been below its 200 candle moving average for a long time, It will also get a reaction from the 1500 level is being considered.
While TOBO’s neckline is the current support, 1030-1040 dollar levels also support looks like. These levels are down as a result of the breakdown Ethereum bottoms out to $ 880 levels may experience withdrawal.