24 August 2021 | ZebPay Trade-Desk
Ethereum (ETH) bears came in strong close to the $3,335 mark but were unable to make an impact. The price of ETH has sustained above $3,250 showing that the belief in it is strong, and bulls are still in control and are buying just as small dips occur. Strong psychological resistance is in place at $4,000, while a turn and fall below $3,000 would indicate that bears are back in the driving seat, though at times this seems unlikely to happen.
ETH witnessed a massive rally from $1,721 on July 20 to $3,380 surging almost by 96%. Post this move, it’s been seventeen trading sessions now that the asset is consolidating and trading in a range from $3,000 to $3,350. The volumes are also declining which indicates indecision at these levels. Hence, we conclude that breakout on either side with good volumes will further decide the trend for the asset.
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