Description
⋅ ETH is testing a critical resistance right now at $500. Historically this has been a difficult ceiling to break through but will it be 4th time lucky?
The next set of resistances to watch out for over the weekly timeframe if bulls are successful at the retest:
(1) $592 - the 0.382 Fibonacci level
(2) $625-$660 area - Next major resistance zone (red bar).
(3) $710 - Key S/$ level.
(4) $750 - 0.5 Fibonacci level.
Next likely supports if they fail:
(1) $440 - Key S/R level.
(2) $400-$360 - Next major support level (green bar) + overlapping with up-trending support (yellow line).
(3) $306-$288 - Lower major support level (green bar) + weekly 50 EMA (blue).
(4) $225 - Key S/R level.