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Ethereum Tuesday

22nd  June 2021 | ZebPay Trade-Desk
Ethereum (ETH), the second-largest asset by market capitalization of $230bn, has seen a dip of almost 20% since the start of the week, falling below the $2,000 mark, for the first time since the market rest last month. However, with the EIP-1559 upgrade likely to happen in June end, the asset looks promising at these levels.

ETH was consolidating and trading in a broad range from $2,200 to $2,800. The asset witnessed a sharp fall post giving a breakout on the downside and made the low of $1,876. Technically, ETH is still looking weak, however, the asset is trying to take support at these levels. If it sustains the support then we can expect some recovery, else we may see a further downfall, and the prices may slide to the next support level of $1,755.

Resistance 2$2,651
Resistance 1$2,200
ETH
Support 1$1,755
Support 2$1,546

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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