Ethereum Testing Highs... Can it Break Out??

8 Agu 2022

Ethereum has broken through a cluster of resistance levels in the $1700's. Just a few days prior, we were having issues with $1653, the first of these levels, but have managed to punch through resistance over the weekend. We are currently contending with the last level at $1748. Though we have broken through (currently in the $1760's at the time of this writing), we are seeing heavy resistance confirmed by a red triangle on the KRI. Current levels align with previous highs in Ethereum, established in late July. If we are able to clear them, the next target is $1821, a significant milestone for ETH. If we fail to break out, then expect support in the high $1700's, with $1653 a likely lower bound for now.