$3K Holds as Ethereum Sells Off

11 thg 2, 2022

Ethereum rejected higher levels at $3200 as we predicted here all week. We were able to breka through $3200 for a brief time, coming just shy of the next target of $3324, where several red triangles on the KRI confirmed prohibitive resistance. Inflation data and increase Fed rate hike expectations have bled into the crypto market encouraging a selloff across the board. However, 3K is still holding strong, with several green triangles on the KRI confirming support here, just above our next technical level of $2965. If this does not hold there is a vacuum zone down to $2852. The Kovach OBV has leveled off so we anticipate support to hold for now.