Ethereum Faces Resistance at $3200

8 Feb 2022

Ethereum has continued its ascent from the low 3K handle, after solififying value here from the 2K's. We are seeing quite a bit of resistance from $3200 as predicted in these reports many times. We are seeing some red triangles from the KRI suggesting resistance here, and if we are unable to solidly break $3200, then $2965 should provide support. If we retrace to this level, beware that we may form a head and shoulders pattern with a neckline at $2965. If we break through this, we will move deeper into the 2K handle again. If momentum picks up, then $3324 is the next target.