Has Ethereum Bottomed??

11 Jan 2022

Ethereum tested lower levels in the high 2K's yesterday, but these lower levels were swiftly bought back to value in the $3100's. This is the second time we have tested the 2K handle. Although the markets bought up ETH at these values, the fact that we've tested the 2K's twice, suggests we are becoming increasingly more comfortable with these levels. For now, we seem comfortable between 3K and $3200. At the time of this writing, ETH is testing $3148 from below, with two red triangles on the KRI suggesting we are encountering some resistance here. The level to conquer is $3200 before we can make an attempt for $3324, the next target on the way up to the mid 3K's. In the event of another sellof, watch $2965 and $2852 for support.