Ethereum Runs Into Resistance

4 Agu 2022

Ethereum found support at $1547, and pivoted up to higher levels. There is a dense cluster of levels starting at $1653, and extending to the mid $1700's. We are currently contending with the first of these levels, unable to break higher. We are seeing many red triangles on the KRI, confirming the resistance. The Kovach OBV has leveled off, suggesting that we need more momentum before we can break higher. If we reject current levels, then $1547 should continue to provide support, otherwise the next level is $1424.