Analysis: Ethereum course decreases 10% after Israeli attack – PGz

The cryptomarkt started a decrease last night after Israel fired missiles on Iran. As a result, the Ethereum rate has fallen by 10%, so let’s look at the graphs.

Course falls from $ 2,800

These kinds of unexpected extreme events always influence the prices. We cannot therefore analyze whether there is such an attack, or whether it was. But what we can do is look at the graphs to investigate the most important price levels.

That is what we are going to do now. To start with the daily graph of Ethereum. Here every candle stands for a 24 -hour period, so that we can see a large part of the price history. In this way the strongest price levels become clear: these are shown above as gray, green and blue zone.

Each of these levels has previously provided both support and support. And it was therefore to be expected that – should the course ever come back here – that it remained important. To this day, this can be seen in the graph, especially after the rejection that ETH had to endure this week.

The coin tried to get past the green zone ($ 2,800), but, as is often the case with these types of zones, the price fell further. This was before the attack of last night.

What can we expect from Ethereum?

Now that the rate has fallen 10% extra in a short time, that raises the question: are we going much further down? And to analyze that, we will zoom in a little further. We do this by looking at the 4-hour graph of ETH. Here every candle stands for a period of 4 hours, so that we can see the course in more detail.

In this way the rejection at the green zone becomes clearer, but we also see that the coin still makes higher lows in the short term (shown with purple arches). In principle, this means that buyers still buy higher, even despite the attack by tonight.

As long as the price continues to make this kind of higher layer points, nothing seems to be wrong. Until then, Ethereum is in an upward trend. In practice, we do not really want to see that ETH ends up under a course of $ 2,380.

But if something else happens than last night, this can of course exert new negative influence on Ethereum. Therefore, keep an eye on the news in addition to the graphs.