ETH – “Expect both sides to make moves.”

4-Hour Analysis:

Big Picture: Price took decent bounce of the intra-day support levels. Going forward expect some slowdown in relief momentum. Consolidation favors bulls, who will aim to test the EMA-50 4-Hours at 2760, followed by 2830, once they break above 2730. However, over 2830, there are strong visible resistances that will give price a rough patch.

On Upside, first intra-day resistance is observed at 2730 level followed by 2760. This is where EMA-50 4-Hour is present that is likely to act as a swift resistance for the day. However reclaiming EMA-50 would be a positive sign overall.

On the Downside for ETH, things are much the same. The initial intra-day support level is 2620, which is followed by 2510. Expect to see 2480 followed by 2420-2380 very fast if ETH breaks below these supports. Range-Lows are protected as long as 2380 remains intact.