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Ethereum Tuesday

14 September  2021 | ZebPay Trade-Desk
Ethereum (ETH) has seen a significant correction over the past week or so, as it fell from highs of $4,000to $3,150 levels, before recovering and currently trades at $3,300. The asset has been range-bound since, fluctuating between $3,150-$3,500. Institutional inflows have seen a dip, and so have volumes. Currently, $3,550 acts as a strong psychological resistance, and if the assets beat that, bulls are likely to take charge.

ETH, last week, post consolidating gave a breakout on the upside and surged up to $4,027. However, the asset couldn’t sustain above the psychological resistance of $4,000 and witnessed a sharp correction of almost 25% making the low of $3,026.

ETH has very strong support around $3,000 and the lower longer shadows indicate buying around these levels. Currently, ETH is consolidating and trading in a range from $3,150 to $3,500 and breakouts on either side will further decide the trend for the asset.

Support 2Support 1AssetResistance 1Resistance 2

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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