Ethereum Retraces On Below Average Volume: The Bull, Bear Case For The Crypto
Portfolio Pulse from Melanie Schaffer
Ethereum (CRYPTO: ETH) was trading about 1% lower during Tuesday’s 24-hour trading session after breaking up from a sideways pattern on Monday. The crypto was trading in tandem with Bitcoin, which was also retracing Tuesday after spiking up about 2% on Monday. Ethereum’s recent fluctuations in price have settled the crypto into an uptrend pattern on the daily chart. Ethereum has resistance above at $1,937 and $2,150 and support below at $1,846 and $1,717.
July 04, 2023 | 8:13 pm
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Ethereum (ETH) is in an uptrend pattern, with resistance at $1,937 and $2,150, and support at $1,846 and $1,717. The crypto retraced about 1% on Tuesday.
Ethereum's price retraced about 1% on Tuesday, but the crypto remains in an uptrend pattern. This suggests that the price may continue to rise in the short term, barring any significant negative news or events. The resistance and support levels provide key price points that traders will be watching closely.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100