26 October 2021 | ZebPay Trade-Desk
Ethereum (ETH) has seen a significant rally over the past week, currently trading around $4,200 after it broke through the stiff resistance it faced at $4,000. It came very close to setting a new all-time high but missed out on the same. ETH is up by approximately 12% over the past week, and ETH dominance too has improved, currently close to 19%, as the second-largest asset currently has a market capitalization of $500 billion.
ETH has been trading in an uptrend and last week the bulls pushed the price above the psychological level of $4k mark and made the high of $4,370. The asset surged almost by 59% within a month. However, ETH faced stiff resistance and was unable to breach the all-time high of $4,373 and corrected almost by 11%. The asset took support at the crucial level of $3,950 and bounced back above the $4k mark. To further rally ETH needs to break and close above the all-time high with good volumes. The rising moving averages and the relative strength index (RSI) in the positive territory indicate that buyers have the upper hand.
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $3,675 | $3,950 | ETH | $4,370 | $5,085 |
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.
