Ethereum has lost less than one percent in the past 24 hours. The currency pair develops its correction to the previous downtrend. However, ETH/USD seems to lose its momentum, as it fluctuates within a horizontal range this week.
Let’s have a closer look at what is happening on the Hourly chart. Ethereum fluctuated within the range on Thursday. ETH/USD stays close to the support area at $596.08. What are the possible ways for Ethereum?
1. Red scenario (bearish). ETH/USD will break through the support area at $596.08 targeting the next support area at $566.90.
2. Orange scenario (neutral). The currency pair will move towards the closest resistance area at $626.66 and jump off this area, targeting support at $596.08.
3. Green scenario (bullish). Ethereum will grow towards $566.90 resistance area and break it through targeting the next resistance area at $662.39.
Check the full crypto analysis HERE>>>.
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