Will Ethereum Break Levels & Reach New Highs?

Ethereum prices have been climbing since the 11th of January after spending the beginning of ’22 shedding value. But a weakening dollar and general market sentiment likely fueled this rebound. We are looking for an emerging trend that will likely test the levels shown in the chart above.

This almost contradicts Ethereum’s market cap which reached a stunning 397.762B most likely bolstered by the rush to the NFT market, which reached a 22bn market cap in 2021.

The levels which we are looking for are

1st Resistance: 3420
2nd Resistance: 3590

1st Support: 3213
2nd Support: 2946

If we see rates break through the second levels, we can reasonably expect new highs or lows, respectively.