After news of the U.S.-Iran peace plan broke last night, Ethereum rallied along with Bitcoin, breaking through 2,445 in one go after struggling with that level for a week.
It retested lower levels several times during the day today but never fell back below that mark. The price held steady around 2,470, and ETH has also stopped losing ground against BTC over the past few days.
For the short term, let’s look at the 4-hour chart.
Resistance is at 2,480, where the price stalled both during last night’s spike and this afternoon.
Support is at 2,440. Yesterday’s resistance has become today’s foothold on the retest.
For the medium term, let’s look at the daily chart.
Resistance is still at 2,550, where the 20-day and 50-day moving averages are clustered. Since the drop in early October, the daily close hasn’t reclaimed this level.
Support is at 2,320. The price tested this level twice—last Thursday and early Monday—and was bought back up both times.
Overall, the market has shifted from a weak consolidation to a stronger consolidation, but it’s still within the range.
If it holds above 2,480, there may be a chance in the short term to test the 2,550 moving-average zone, which will be the real test for this rebound.
If it falls back below 2,440, last night’s bullish candle will have been for nothing, and the price will likely return to around 2,400 and continue to consolidate.
$ETH
#以太坊 #MarketAnalysis
It retested lower levels several times during the day today but never fell back below that mark. The price held steady around 2,470, and ETH has also stopped losing ground against BTC over the past few days.
For the short term, let’s look at the 4-hour chart.
Resistance is at 2,480, where the price stalled both during last night’s spike and this afternoon.
Support is at 2,440. Yesterday’s resistance has become today’s foothold on the retest.
For the medium term, let’s look at the daily chart.
Resistance is still at 2,550, where the 20-day and 50-day moving averages are clustered. Since the drop in early October, the daily close hasn’t reclaimed this level.
Support is at 2,320. The price tested this level twice—last Thursday and early Monday—and was bought back up both times.
Overall, the market has shifted from a weak consolidation to a stronger consolidation, but it’s still within the range.
If it holds above 2,480, there may be a chance in the short term to test the 2,550 moving-average zone, which will be the real test for this rebound.
If it falls back below 2,440, last night’s bullish candle will have been for nothing, and the price will likely return to around 2,400 and continue to consolidate.
$ETH
#以太坊 #MarketAnalysis