ETH - 4h. Buyers have kept $1,700 and are preparing to attack

16 feb 2021

Consolidation in the ETH market continues from February 8. Buyers are unable to establish themselves above the range of $1850-1875. Basic buyers support is in the range of $1700-1720. As you can see in the chart, the sellers twice tried to gain a fix below this range, but their attack ended in a false break.

The ideal scenario for the continued rise in the price of ETH would be a repeat dest of the range of $1700-1720, however, at low volumes and without aggressive candles. This local fall in the price of ETH will show the complete depletion of sellers and the beginning of a new impetus for the growth of the ETH market.

However, looking at the 12-hour candle, the price of ETHUSDT may start to rise from current prices.

Therefore, for medium-term movement, the range of $1700-1800 is good for trying to recruit a position.

If the price hits $1700, there is no point in holding such a position. In this case, you should expect the price to continue to fall to $1,500
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