1-Day Analysis:
Big Picture: Ethereum’s momentum indicators are indicating significant bullish activity, which is supported by price increase from yesterday and the current session. The aggressiveness of Ethereum has exceeded the expanding pattern formation, and the price is currently intensely vertical. Additionally, the EMA-200 daily growing with extraordinary acceleration towards the upside.
On the Upside Ethereum has once again broken through a number of intraday resistances and is presently challenging the intraday resistance of 3285. This is the session’s primary resistance; above this, the next intraday hurdles are at 3325 and 3395. Meanwhile, price over 3395 will strive for the range highs around 3580. However, due to the overbought conditions, slight profit-taking on strength remains recommended.
On the Downside the projected support levels are likely to begin at 3240, followed by 3205 to 3195 levels. These levels are anticipated to provide the key support for the current session. Dynamic support levels are currently lagging significantly on both lower and higher time frames. Price is expected to retain solid momentum as long as the 3195 level is held.
