📊TECHNICAL ANALYSIS ON 2-HOURS TIMEFRAME
A few time ago price rose to the support area, which coincided with support 1, and then continued to fall inside a downward channel. ETH fell to the support zone, which coincided with support 2, but soon it rebounded up and also exited from the channel. Next, the price some time traded near support 2, and later ETH bounced from this level and made a strong impulse up to support 1. In a short time price broke this level, and continued to move up to 1850 points, but after Ethereum reached this point, it made the correction. But soon, the price rose back, and now trades there again. For my mind, Ethereum can rebound down to the support zone, which is located close to support 1. That's why I set my target at the 1735 level, which coincided with the support zone.
📊QUICK FUNDAMENTAL LOOK
Ethereum started a downside correction below the $1,800 level. ETH tested the $1,750 support where the bulls emerged. A low was formed near $1,756 and the price started a fresh increase, like Bitcoin.
⚠️Warning: Trading contains elements of risk, please be careful when Making Orders, Market Recommendations are only for consideration.