Technical analysis using the Ichimoku cloud indicates that Ethereum is approaching a resistance level around the
2
,200 price range. This resistance level suggests that Ethereum's price may experience a pullback or even lower lows from this point.
The Ichimoku cloud is a technical analysis tool that uses a combination of indicators to identify support and resistance levels. It is made up of several lines that provide information about price momentum, trend direction, and potential reversal points. When the price is above the cloud, it indicates that the trend is bullish, while when it is below the cloud, it is bearish. In Ethereum's case, the cloud is indicating resistance around the
2
,200 price range, which could result in a pullback or even lower lows from this point.
2
,200 price range. This resistance level suggests that Ethereum's price may experience a pullback or even lower lows from this point. The Ichimoku cloud is a technical analysis tool that uses a combination of indicators to identify support and resistance levels. It is made up of several lines that provide information about price momentum, trend direction, and potential reversal points. When the price is above the cloud, it indicates that the trend is bullish, while when it is below the cloud, it is bearish. In Ethereum's case, the cloud is indicating resistance around the
2
,200 price range, which could result in a pullback or even lower lows from this point.