04 May 2021| ZebPay Trade-Desk
ETH has further rallied over the past week, and continues to do so, attaining new ATH’s almost everyday. The second largest cryptocurrency by market value crossed the $380 billion mark and keeps soaring high. Presently, ETH is trading around $3,350 reflecting a gain of about 8% approximately over the period of 24-hours.
As we can see from the hourly chart above, ETH is trading in an uptrend. It made an all-time high of $3,445. Post this feat, the asset has made ‘Tweezer Top’ pattern and we can see the red body has engulfed the green body with high volumes at the peak indicating a trend reversal. So, we may anticipate a minor correction or profit booking. For ETH to go further up, prices need to sustain above $3,400 and it needs to break the new top convincingly. $3,200 and $2,994 will act as crucial support levels for the asset.
| Resistance 2 | $3,602 |
| Resistance 1 | $3,445 |
| ETH | |
| Support 1 | $3,200 |
| Support 2 | $2,994 |
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