1-Day Analysis:
Big Picture: Ethereum ended the previous week with a weekly Morning Star Pattern candlestick pattern. This pattern suggests a bullish continuation of Ethereum’s upward trend. Furthermore, the bulls have been able to retake a crucial hurdle, and if this level holds, the upward momentum may soon take a greater shape. Meanwhile, sellers need to fall back down below the recently achieved key level, if they have to push Ethereum back into indecision.
On the Upside Ethereum bulls have been observing considerable congestion between the levels of 2520 and 2540. Price achieving a hold above these levels would assists in additional momentum development, allowing the upside to surge back into the levels of 2650, followed by 2720 as initial aims.
On the Downside Positions for decent intra-day supports range from 2470 to 2460 levels. The next key supports are the breakthrough supports from 2420 to 2405 levels. As long as this range holds against any selling efforts, the downside is protected.
