Ethereum, a decentralised open source blockchain system, features its own crypto asset Ether. ETH can be used as a platform to exchange many other crypto assets and for the execution decentralised smart contract. Over the last 24 hours, Ethereum has dropped by 2.2%. The volume flow has increased by 35% over the past 24 hours. Ethe’s market capital is currently at $240 billion, which is 2% less than the previous day.
At the time this article was written, ETH was trading for $1,985.
ETH traded in the red over the past seven consecutive weeks. The asset started this week in red. The prices are not falling to new lows. After falling to $1,763, ETH has found support at the $1,750 level (Horizontal Trendline 200 Week Moving Average, 127% Fibonacci Rectangle Level). This has been a sign of recovery. The asset is consolidating and trading between $2,150 and $1,900 with very low volumes. The trend will be further determined by breakouts at either end of the range, which are accompanied with high volumes.
Support 2Support 1AssetResistance 1Resistance 2$1,750$1,900ETH$2,150$2,400
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 response to new events or circumstances after the date of the report was made. Trading and Investments in cryptocurrencies viz. Bitcoin Cash, Ethereum, and other cryptocurrencies are highly speculative investments that are subject to market risk. The Author’s analysis should be used only as information and should not necessarily be considered investment advice.
24th-May-2022 ZebPay
