ETH/USD started its upside tendency last week and I think the currency pair is going to develop it in mid term. However, I also think that the fuel is needed for that as buyers are out of power currently. The currency pair looks very promising currently but ETH/USD is likely to go downwards first.
Ethereum has reached new local highs on the daily chart and failed to establish new lows. I see here a good sign as investors seem to be ready to change the situation. ETH/USD touched the resistance area at $495.89 on Tuesday but then retreated below it.
I think that this is logic and natural according to the technical analysis. The first target for the next week is the support area at $427.24. This support is strong as it resisted a couple of bearish attacks already. The next target for midterm lies above the current price at $569.72.
Check the full crypto analysis HERE>>>.
Ethereum has reached new local highs on the daily chart and failed to establish new lows. I see here a good sign as investors seem to be ready to change the situation. ETH/USD touched the resistance area at $495.89 on Tuesday but then retreated below it.
I think that this is logic and natural according to the technical analysis. The first target for the next week is the support area at $427.24. This support is strong as it resisted a couple of bearish attacks already. The next target for midterm lies above the current price at $569.72.
Check the full crypto analysis HERE>>>.
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