Ethereum Hits Critical Levels!!

12 Mei 2022

Ethereum has plummeted past many of our support levels, finally finding support at around $1700. Recall that $1770 is a very significant level and corresponds to a Fibonacci level on the daily chart. We did see remarkable support here and ETH subsequenty was able to pivot back to the $1900's. We will see if we are able to recover the 2K's. If so, then $2025 and $2087 are the next targets. At this point, it seems that the 2K's are a barrier. The Kovach OBV registers dramatically oversold conditions, so a relief rally is due. But if the selloff continues, then the $1700's should provide support and should be considered a floor for now.