Analysis: Can Ethereum still be above a race of $ 2,800? – Passionategeekz

Ethereum has been under an important resistance for a while. Here, buyers seem to be getting more and more insecure, causing the mint to drop further. Let’s look at the graphs.

Which levels are important for ETH?

To get a good picture of the resistance and other important price levels, we first look at the daily graph of ETH. Here every candle stands for a 24 -hour period, so that we can see a large part of the price history.

For example, three zones become clear: a gray ($ 2,100), a green ($ 2,800) and a blue zone ($ 4,100). In the past, these price levels have more often provided both support and resistance, so that they could also be important in the future.

If you look above the history of ETH, these reactions to the zones become clear. Almost every time the course returns here, he changes direction. It is therefore logical that the gray zone can provide support, while the green zone above it causes resistance. Until the coin comes out of these joints, it is likely that we will continue to ping pong between these zones.

Ethereum recently ended up in the green zone, and we got exactly the resistance we expected there. It is therefore not surprising if ETH will now drop further, but there is still a little hope.

Still higher low points

Ethereum was in a downward trend for a long time (orange arches in the first graph), but due to the rise beyond the gray zone, this trend was broken. This ultimately had a very positive effect on the course, because it started an upward trend.

This is still active to this day, but to see it better we will zoom in. We do this by looking at the 4-hour graph of ETH. Here every candle is not for 24, but for 4 hours. In this way we get the best picture of the price in the short term.

This makes it clear that, despite its rejection at the green zone, the coin still makes higher layer points. This is shown above with the purple arches. The race seems to be passing a previous low point every time, but buyers keep buying higher and higher. Despite the sales pressure on a price of $ 2,800, Ethereum remains fairly strong.

This can change if the course stops the upward trend. If the mint drops under these purple arches, this trend is broken and we should probably get ready for further downward momentum. The gray zone could offer support.

In any other case, however, it seems likely that Ethereum will still make an attempt to get through the green zone. That would ultimately have a positive effect on the price forecast, so keep an eye on the graphs.