12 April 2022 | ZebPay Trade-Desk
Eth is currently trading in red with about a 6.2% fall in the last 24 hours. The market is witnessing a lack of aggressively buying bulls which has given the bears to continue the selling off. The bulls will now try to put the price above the $3,000 level and if it rebounds at this level then consolidation can be witnessed at $3,400.
At the time of writing, ETH was trading at $2,971.
ETH after surging from $2,500 to $3,578 faced stiff resistance at $3,600 and witnessed a sharp correction. The asset fell almost by 17% and made a low of $2.953. ETH has strong support at $2,905 (61.8% Fibonacci Retracement Level) and we can expect a bounce from these levels. On the contrary, a break below $2,900 will lead to a further downfall and the prices can slide to $2,725 levels.
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $2,725 | $2,905 | ETH | $3,175 | $3,415 |
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