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Ethereum Tuesday

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
Support 1$1,711
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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