Ethereum is still inside the ascending channel

Over the past week, Ethereum has registered a doji candle with a bearish body and a negative 0.95% decrease.


This candle shows that both the current support levels in the range of $1600 and $1500 and the resistance levels in the range of $1700 are strong ranges, which can cause Ethereum's price to range trend.


Ethereum is still inside the ascending channel in the lower timeframe, and the price has reacted positively to the support level of $1,600.

If Bitcoin maintains its reliable floor at the level of $22,500, it is possible for the price of Ethereum to grow and move again toward the ceiling of the channel. But if the support is broken, the decline in the price of Ethereum can continue to the $1,500 range.