29th June 2021 | ZebPay Trade-Desk
Ethereum has crossed the $2,000 mark and is in the green so far this week. The asset currently trades at $2,115 reflecting a gain of about 7% approximately over the period of 24-hours. The next few days will be interesting for the asset, as the EIP 1559 upgrade is drawing closer, and price movements are anticipated to take place, as most analysts are expecting a further recovery post this.
ETH last week, post making the low of $1,711.4 rallied almost 20% up to $2,045. The asset faced resistance around the $2 K mark and witnessed another correction over the weekend. However, it did not test the recent lows and reversed from $1,717.2 and started moving in an uptrend making a ‘Higher Top Higher Bottom’ pattern. ETH may face stiff resistance around $2,200. Hence, to further rally the asset needs to trade and close above $2,200.
| Resistance 2 | $2,651 |
| Resistance 1 | $2,200 |
| ETH | |
| Support 1 | $1,711 |
| Support 2 | $1,546 |
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