30th November 2021 | ZebPay Trade-Desk
Ethereum (ETH) has seen a correction in the past week, after witnessing a short rally and crossing the $4,550 mark, after which it fell by approximately 12% and hit lows of $3,915. This fall has fueled inflows into the asset, as many investors have been on the sidelines over the past couple of weeks. BTC dominance currently stands at 20.31%
ETH has witnessed a sharp correction and the prices fell almost by 19.5% from their peak of $4,867 making the weekly low of $3,915. Technically, on a weekly time frame, ETH has made a ‘ Cup and Handle’ pattern (Bullish Pattern) with a neckline at $3900. The asset has retested the support and has started moving upwards. Hence, we continue to remain bullish until the asset is trading above $3,900. However, to witness a rally, ETH needs to break and close above the resistance of $4,551.
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $3,650 | $3,900 | ETH | $4,550 | $4,850 |
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