Ethereum Pivots, Regaining the $1300's

27 set 2022

Ethereum found good support just above our level at $1235 with green triangles on the KRI suggesting strong support around $1280. From there, we experienced a massive rally, in the face of persistent malaise among risk-on assets. We broke through $1341, the next level above, with ease. We are currently facing resistance, confirmed by a red triangle on the KRI, at $1380 or so. If we are able to break through then $1424 is the next target, with $1547 a likely ceiling. If we reject current levels, then $1235 is likely to provide support.