Ethereum technical analysis in 4 hours time frame As we mentioned in the previous Ethereum analysis; This cryptocurrency was able to hit the resistance zone of $1,720 to $1,790 (Bearish Zone) and react. After that, Ethereum entered a correction phase, which is currently trading at around $1,600. There are two most likely scenarios. Scenario No. 1: From here on, it will continue to decline and reach (1482-1507) dollars. Scenario number 2: It will have a short growth up to (1630-1671) dollars and will continue to fall again if a sell setup is formed.
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Update: The price has progressed according to the second scenario and has had a relatively short growth up to the resistance zone (1630-1671 dollars). If a downward setup is formed in the lower time frames, you can open a sell position.