15th June 2021 | ZebPay Trade-Desk
A much-awaited event, the Ethereum protocol upgrade proposal (EIP-1559), which promises us to provide an improved transaction process and to streamline the experience of the user by decreasing the transaction costs and making it much simpler and easier to determine fees in a less stressful and wasteful manner, is also due very soon.
At the time of writing, ETH is trading at $2,618 and has surged almost 16% from its recent low of $2,258.3. Technically on the daily time frame, ETH is making ‘Higher Highs Higher Lows’ formation. The asset can face some stiff resistance around $,2640, if the price breaks and trades above these levels we can expect the prices to rally up to the next resistance which is at $2,950.
| Resistance 2 | $2,981.00 |
| Resistance 1 | $2,840.00 |
| ETH | |
| Support 1 | $2,430.00 |
| Support 2 | $2,279.00 |
Disclaimer: This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in cryptocurrencies viz. Bitcoin, Bitcoin Cash, Ethereum etc.are very speculative and are subject to market risks. The analysis by the Author is for informational purposes only and should not be treated as investment advice.
