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Ethereum Tuesday

10 August  2021 | ZebPay Trade-Desk
Ether (ETH) crossed the psychological level at $3,000 on Aug. 7, a signal that the correction might actually be over. The bears tried to stop the rally by pulling the price back below $3,000 but the buyers held their ground. We anticipate that the bull will now try to resume the uptrend, citing levels of $3,500 and then to the psychological resistance at $4,000. 

ETH had a strong resistance at $2,900, the prices breached the crucial level and rallied up to $3,200. Technically, the asset is now consolidating near the highs and trading between $3,200 and $2,950. $29,00 will act as a support for ETH and if it sustains the support, we can expect another rally, else we may see some correction, and the prices may slide to the next support level of $2,650.

Resistance 2$3,850
Resistance 1$3,500
ETH
Support 1$2,900
Support 2$2,650

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.

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