Ethereum had dipped as far as the $1700 handle during the crypto selloff only to be driven back up to $2K. It appears that investors clamored onto ETH at sub $2K prices, finding it a steal for now. With all that ETH has going for it, it seems like even current prices are a bargain for now. We are currently sitting at resistance from $2K, and will have to break through two major levels before $2400, which seems to be the major hurdle for now. If we see another wave of momentum for ETH this should follow quickly, but it appears as though it has let up for the moment. The Kovach OBV has picked up sharply along with the Chande. The latter indicator measures shorter term moementum. Note that it has dropped off. Additionally we have a red triangle on the KRI which aligns perfectly with $2K, suggesting that we have rejected this level for now
Note
As we said in the report, $2K provided resistance for ETH and we've not been able to break out from this level. Looks like a rejection for now...
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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.