ETH – “Choppy Price Action”

4-Hour Analysis:

Big Picture:  Reclaiming the 3000 mark for ETH is a huge boost for Bulls. This level should not be revisited, or at the very least not breached, if there are significant upsides to be seen. If the bulls can trade over this level, they will most likely reach 3170, 3240, and finally 3410 in the next days. However, any closing below 3000 mark will once again keep ETH under choppy price action.

On Upside, first intra-day resistance is observed at 3100 level followed by 3170. ETH needs to climb above 3170 to visit the next target of 3240 followed by 3320 and eventually 3410. This level remains to be EMA-200 Daily based key resistance which is likely to trigger profit-taking.

On the Downside first intra-day support is seen at 3070 followed by 3050. However 3000 mark is a psychological mark that needs to be protected for bullish control over charts. Any closing below will next open 2880 followed by 2660.