to Ethereum (ETH) The goals we set out in our last two analyzes of
We observed that the $1500-1580 support band, which we mentioned in our last analysis, did its job well and that Ethereum, powered by it, rose to $1900 again.
The lower-than-expected inflation data in the US and the successful execution of the Goerli test, which is a testnet transition to POS, yesterday increased the earnings and risk appetite in Ethereum.
New Position Could Be Risky
It would be healthy for investors who have not taken a position so far to watch that these levels are maintained for a new position for a while.
From now on, the $1722 level will be our main support. If this level is broken, we can test $1580 again.
Ethereum/BTC and Ethereum/USDT In the charts, we see that the power indicator exhibits a negative dissonance. While this is not a 100% bearish signal, it does indicate that it is time to be cautious and mitigate risk in positions.
A pullback to $1580 would not surprise us. If this level is maintained, we could see a rise to $2160 again.
*Not Investment Advice.
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