Ethereum has caught some wind breaking what we identified as formidable resistance in the $2K handle, in particular $2025. We are currently facing resistance from $2143, and will likely range or retrace from here. The price action and the Kovach OBV appear to be rounding off, suggesting that ETH might be losing steam. The next target is $2232, and then we have a vacuum zone until $2400 which is a well respected level. We should see support at $2025 or the psychological $2K level.
Trade closed: target reached
ETH hit our profit target of $2232 and is currently sitting just below it
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Join my discord at discord.io/quantguy
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.