Volatility in the market
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In the last 24 hours, there has been a lot of volatility in the market and market sellers have gained strength.
With the continuation of the upward trend of Ethereum and the formation of a new ceiling in the 4-hour time frame, the price hit the range of 1727 to 1808 dollars.
This resistance has been seen as a strong supply area on the Ethereum chart for the past few weeks when the price hit this range again after a 6-month gap.
Also, the trend of Ethereum below this resistance zone can be ranged. But in the 4-hour timeframe, due to the creation of a higher ceiling, we see the Ethereum trend rising again.
So two important supports are considered for Ethereum, which considering the type of correction and the high angle to the horizon, we can expect the price to hit these levels.
The first support is in the rand range of $1600, and the second support is in the range of $1545-1555.
With the continuation of the upward trend of Ethereum and the formation of a new ceiling in the 4-hour time frame, the price hit the range of 1727 to 1808 dollars.
This resistance has been seen as a strong supply area on the Ethereum chart for the past few weeks when the price hit this range again after a 6-month gap.
Also, the trend of Ethereum below this resistance zone can be ranged. But in the 4-hour timeframe, due to the creation of a higher ceiling, we see the Ethereum trend rising again.
So two important supports are considered for Ethereum, which considering the type of correction and the high angle to the horizon, we can expect the price to hit these levels.
The first support is in the rand range of $1600, and the second support is in the range of $1545-1555.
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