Similar to Bitcoin, but with less price volatility, Ethereum saw a steady climb to the upside from the support level of 1600 to the resistance level of 1670.
However, after testing and rejecting the resistance level, the price retraced down to the 50% fibonaccci retracement level at 1630.
Further upside is anticipated for Ethereum, especially if the price stays above the 1630 price level and more crucially continues above the upward trendline.
If the price breaks above 1670, the next key resistance level is at 1720.
However, after testing and rejecting the resistance level, the price retraced down to the 50% fibonaccci retracement level at 1630.
Further upside is anticipated for Ethereum, especially if the price stays above the 1630 price level and more crucially continues above the upward trendline.
If the price breaks above 1670, the next key resistance level is at 1720.
