Ethereum dropped under 1600 level

BINANCE:ETHUSDT   Ethereum / TetherUS
Hi guys, let's review the current situation on Ethereum.

As was expected Ethereum dropped under 1600 level and 1550-1500 support area. After recent drop ETH in correction phase at the moment and now trading around 1600 level. There is possibility that Ethereum will rise to 1640-1680 resistance area but it's very unlikely that it will rise higher than that.
Overall, I expect that Ethereum will continue to fall towards 1500 level and even lower. At the moment 1550-1500 support area is the main target. Ethereum is looking weaker than Bitcoin and in case if Bitcoin continue to drop further than Ethereum will drop faster.

If this post is useful to you, you can support me with like/boost and leave comments below.
Many thanks.
Ethereum is following Bitcoin rise an currently trading within 1640-1685 resistance area. As I posted in this idea, I don't expect that ETH price will go significantly higher than 1640-1685 area and overall expect that price will continue to fall. But if price goes above 1700 level and stays there then this idea can be cancelled.
Everything goes as expected. Ethereum didn't manage to break 1640-1685 resistance area and after few days trading at that area continued to fall.
Now we have to look at support area in range of 1500-1550. It will be crucial for ETH to stay above that area.

✅ FYBIT exchange. I recommend. No KYC, available in all countries.
🔥 My Twitter -
▶️ Telegram -

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.