ETH traded at $2,000 over the weekend. However, it is clearly the center of attention in crypto markets. Over the past two months, the asset has outperformed BTC. The ETH/BTC exchange rate has risen by almost 63%, from 0.0499 to 0.0816. This indicates that ETH has outperformed BTC. The pair faces stiff resistance at 0.82, which could lead to profit booking.
At the time this article was written, ETH was trading for $1,887.
Chart for Ethereum (ETH).
ETH experienced a sharp rally, and soared nearly 130% from its lows at $881 to its recent high of $2,000.30 over the past few months. The asset was able to withstand stiff resistance at the psychological level $2k, and saw some profit booking. ETH has formed a ‘Lower Low Lower High” formation in the last three days, but it did so with very low volumes. The asset is trading in a strong range of $1,800 to $1.750. The bulls will resume their up-move if the asset holds above the support. The asset must break the $2k mark and close above it in order to rally further.
Support 2Support 1AssetResistance 1Resistance 2$1,500$1,750ETH$2,000$2,250
Disclaimer: This report should not be regarded as investment advice. It does not consider the financial situation, investment goals or needs of investors. When deciding whether an investment is right for them, all investors should take into account these factors and consult with a professional advisor. This report was prepared by the Company using information that it has access to, as well as information from public sources that have not been independently verified. The Company makes no representations or warranties, either express or implied, regarding the accuracy, reliability, correctness, completeness, reliability, or fairness of the information, opinions, or conclusions contained herein. This report is preliminary. The Company does not assume any obligation to revise or update the reports in the event of changes or unforeseen events. Trading and Investments in crypto assets viz. Bitcoin Cash, Ethereum, and Ethereum are highly speculative investments that can be subject to market risk. The Author’s analysis should be used only as information and should not be considered investment advice.
16th-AUGUST-2022 ZebPay.
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