📊TECHNICAL ANALYSIS - DAILY TIMEFRAME
Ethereum price rebounded from the resistance zone, which coincided with the 1735 resistance level, and started to decline to the 1620 current resistance level. After the price reached this level, it at once rebounded, but soon made a correction back and then continued to rise. ETH rose to resistance 2, which coincided with their moment with the trend line, and at once bounced and made a strong impulse down to one more 1620 - 1605 resistance zone. After this movement, the price rose back and some time traded nearly resistance 1, and later it reached the trend line again. Then ETH rebounded and declined below the 1620 level, thereby breaking it, but a not long time ago it rolled up to the resistance zone, where the price trades to this day. In my mind, Ethereum can reach the trend line, rebound, and start to decline. For this case, I set up my target at the 1560 level.
📊QUICK FUNDAMENTAL LOOK
Today, the cryptocurrency market witnessed noteworthy activity as significant amounts of Ethereum's native token, ETH, flowed into major exchanges. According to WhaleAlert reports, a total of 21,938 ETH, valued at approximately $34.78 million, landed in Coinbase's wallets. Shortly thereafter, another 32,500 ETH, equivalent to around $51.3 million, was deposited into OKX, another prominent crypto exchange.
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