Cryptolean Ethereum ETH Update

Daily Chart

Ethereum is trading in the bearish territory in the daily chart.

It is having a rangebound price action between the key resistance zone around $3,409 (marked in grey) and a minor support at $3,200.

Below $3,409 resistance, there is a high probability for a dip towards the key daily support zone of $2,781-$2,956.

The price action with this zone will be very important and, most likely, will result in a bullish rejection of this zone.

A bullish break-out of $3,409 will push ETH price into the daily range zone where we will see slow and choppy price action, first towards $3,600 and, likely, higher to $3,793.

Ethereum will become bullish in the daily chart only upon a sustained price action above $3,793.

In this case, bulls will take control of the daily chart and send price higher towards $4,246-$4,421, the next daily target.

Boost once read!
Thank you.