Description
⋅ Hello, welcome to this ETHEREUM /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Ethereum (ETH) also saw a slight resurgence snapped, with market sentiment shifting in a bearish direction.
ETH/USD has bottomed at $1,615.06 so far on Thursday, which comes less than 24 hours after reaching a high of $1,678.09.
Yesterday’s move saw the world’s second-largest cryptocurrency break out of a ceiling at $1,675, however, it was unable to sustain this momentum.
Looking at the chart, bears seem to be targeting a floor at $1,600 for ETH, however, all advances to this point have so far been rejected.
This comes as the RSI appears to have found a relatively stable floor at the 57.00 mark, which has given confidence to nervous bulls.
At the time of writing, ethereum has rebounded from earlier lows and is currently trading at $1,626.90.
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