Relevance up to 15:00 2022-07-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Black lines- Fibonacci retracement
Red line- horizontal resistance
Ethereum is trading around the $1,500 price level. Price has so far retraced only 23.6% of the last decline. Next important resistance is at $1,683 while the 38% Fibonacci retracement is at $1,900. Price can continue higher. Support is found at recent resistance of $1,280. Bulls do not want to see price fall below this level. If resistance at $1,900 is broken upwards, then I would expect Ethereum to reach $2,540.
