Determining resistance of Ethereum

Ethereum made a strong positive reaction the previous day with a full pullback to the $1,210 support area. This sharp move has broken the resistance of the $1,227 range.
We can consider this failure confirmed with a high probability. Therefore, a pullback to this range can be accompanied by reaction signs. Of course, the point is that the upward movement is strong, and there is a possibility that the pullback is not deep.
Note that the RSI is above 50, and the price trades above the 100 hourly simple moving average.
If Ethereum can overcome the $1,251 resistance that it is currently struggling with, the serious resistance in front of it will be $1,275. The next resistances are $1,309 and $1,352.
On the opposite side, if it cannot stabilize its price above $1,251, the support on the chart will wait for it.

Giao dịch đang hoạt động:

Ethereum entered a range channel of $1270 to $1245 after yesterday's upward spike movement. We expect to see the pullback to the support level of 1230 to 1240 and especially the range of 1235 dollars before continuing the upward movement. As we have important economic news ahead of us at the end of the week, this could happen, and with extreme volatility, we could see a pullback to this support zone.