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Ethereum Tuesday

07 September  2021 | ZebPay Trade-Desk
Ethereum (ETH) continues to see inflows from institutional investors and continues to see a rally, currently trading at $3,950.  ETH surged 96% from its recent lows at  $1,721 up to $3,380, and then was struggling to breach the important level of $3,400. For a few weeks, the asset was trading in a broad range from $3,350 to $ 3,300. The asset finally gave a breakout last week with good volumes and the bulls took complete charge and the prices made the high of $4,026. Since then it has been trading in the range of $3,850-$3,980.




ETH post surging 96% from $1,721 up to $3,380 was struggling to breach the important level of 3,400 (61.8% Fibonacci Retracement Level) and was trading in a broad range from $3,350 to $ 3,300. The asset finally gave a breakout last week with good volumes and the Bulls took complete charge and the prices made the high of $4026.

Technically, ETH is trying to make a ‘Flag’ pattern. Once the breakout occurs above $4000 with good volumes then we can expect the prices to rally up to the all-time high of $4,373 and if it fails to do so then we can expect some pullback or profit booking from these levels.

Support 2Support 1AssetResistance 1Resistance 2
$3,350$3,650ETH$4,000$4,373

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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