12 April 2022 | ZebPay Trade-Desk
Eth trades in red, with a 6.2% drop in the past 24 hours. The bears are continuing their selling spree due to a lack of bulls aggressively buying. Bulls will attempt to push the price higher than $3,000 and, if it does so, consolidation can be seen at $3,000.
ETH traded at $2,971 as of the writing of this article.
After a surge from $2,500 to $3.578, ETH faced stiff resistance at $3.600. This was followed by a sharp correction. The asset dropped almost 17% to a low of 2.953. ETH is supported at $2,905 (61.88% Fibonacci Resistance Level), and we can expect a rebound from these levels. A break below $2900 would lead to further decline and prices could slide to $2725 levels.
Support 2Support 1AssetResistance 1Resistance 2$2,725$2,905ETH$3,175$3,415
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