Ethereum has broke down the ascending channel recently and find support at 200 MA in 4hr chart. The price is trying to get back to the channel however, there are significant amount of metrics that make the resistance tough;
Lower trendline of the channel and 20 MA crosses at $1,840. In addition to this, there is
another support around $1,840 which comes from the previous peaks. Overall, three major metrics band together and create solid resistance level at $1,840
Which we would like to see in ETH chart is that the price tests $1,890 in 4hr chart and it stays above $1,840 in daily chart. That would lead the price higher in upcoming days.
Lower trendline of the channel and 20 MA crosses at $1,840. In addition to this, there is
another support around $1,840 which comes from the previous peaks. Overall, three major metrics band together and create solid resistance level at $1,840
Which we would like to see in ETH chart is that the price tests $1,890 in 4hr chart and it stays above $1,840 in daily chart. That would lead the price higher in upcoming days.
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