Ethereum Testing Resistance

8 Sep 2022

Ethereum pivoted from $1547, after breaching this level briefly. Swift momentum took us back to $1653. Recall that this is the beginning of a series of levels extending through the $1700's, which will provide resistance. It will take significant momentum to break through. Though the Kovach OBV has picked up sharply, we will need more follow through if we hope to break out much further. If we reject current levels, then $1547 is a likely target. Otherwise, $1424 is the next level below.