Ethereum Technical Analysis: Difficult To Break Resistance
Ethereum, the second largest cryptocurrency after the leading cryptocurrency Bitcoin, continues to accompany the sharp rises and complex sales in Bitcoin. Ethereum, which accompanied Bitcoin with an increase of 7.5% two days ago, attended the hard sell in Bitcoin yesterday with a decrease of 2.21%. Ethereum, which started the day at the $ 1675 level yesterday, closed the day at $ 1638.
At the time of writing, Ethereum is trading at $1663, increasing by 1.52%.
Ethereum Chart Analysis
Ethereum, which has risen with the sharp rise in Bitcoin, again failed to close above the resistance at $ 1700. Facing selling pressure from the resistance zone, Ethereum continues to consolidate between $1445-1700. The $1700 level can be considered the first resistance point. Buying will accelerate in closings above this resistance. In the pullbacks, $1623, which is EMA5, and $1590, which is EMA21, are the values I will follow as the first support points.
This article does not contain investment advise or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.