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In the 1 Hour time frame of this cryptocurrency, we see the formation of higher floors than each other. which indicates an upward trend. This upward trend continued until the price entered the red descending channel about a week ago, it started its upward trend again with the breaking of the orange line of the 100-day moving average (EMA) and the ceiling of the red channel. Currently, the price is close to its most important resistance, which is around $1,790. In the one-hour chart of this cryptocurrency, there are no signs of decline, but when the price hits the resistance zone, there is a high possibility that the price will return to around $1,500.
If Ethereum is unable to reach above the $1670 level, its first support is the 100 EMA line and the $1550 support level; It is predicted that correction up to this area can be reasonable and will not be far away. But a drop below the $1,550 level could increase selling pressure. As long as this cryptocurrency does not fall below the support level of $1,500, the trend is still bullish.
Tip: The trend of Bitcoin can affect all altcoins, for more success in analysis, always have a look at the chart and the trend of Bitcoin.
Sponsorships: $1550, $1500, $1350
Resistances: $1,790, $1,850
Arztoday Team💙
Analyzer✍: AR.Rashidi
In the 1 Hour time frame of this cryptocurrency, we see the formation of higher floors than each other. which indicates an upward trend. This upward trend continued until the price entered the red descending channel about a week ago, it started its upward trend again with the breaking of the orange line of the 100-day moving average (EMA) and the ceiling of the red channel. Currently, the price is close to its most important resistance, which is around $1,790. In the one-hour chart of this cryptocurrency, there are no signs of decline, but when the price hits the resistance zone, there is a high possibility that the price will return to around $1,500.
If Ethereum is unable to reach above the $1670 level, its first support is the 100 EMA line and the $1550 support level; It is predicted that correction up to this area can be reasonable and will not be far away. But a drop below the $1,550 level could increase selling pressure. As long as this cryptocurrency does not fall below the support level of $1,500, the trend is still bullish.
Tip: The trend of Bitcoin can affect all altcoins, for more success in analysis, always have a look at the chart and the trend of Bitcoin.
Sponsorships: $1550, $1500, $1350
Resistances: $1,790, $1,850
Arztoday Team💙
Analyzer✍: AR.Rashidi
