ETH has been ranging between 4,250 and 4,500 since late August. With the weak payrolls data and yet another downward revision, a September cut is now mostly priced in. The market has also started to anticipate two more cuts for the rest of the year. This has supported Ether, with 4,500 being tested again. If a breakout occurs, an upward move may begin shortly, but for now the 4,500 resistance is still holding.
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Ether already fell to the lower boundry of the range, a buying oppurtunity perhaps?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.