ETH – “Expect Choppy Behavior”

3-Day Analysis:

Big Picture: ETH was rejected at the 2760 level. ETH, like other coins, is ranging between a range that is now thinning. ETH is receiving significant support from the 2312 horizontal level and the 3-Day EMA-200, while being rejected by strong resistances ranging from 2760 to 3000. Expect choppy and ranged movements till any of these ranges breaks.

On Upside, The initial resistance level is 2600, followed by 2660. On an intraday basis, 2760 remains a significant resistance level that must be breached before there can be any additional upside. If bulls are successful in breaking this level, they will go on to daily resistance levels at 2815, followed by a supply zone at 2970-3030. Bulls must break and stay above 3052 to signal a reversal of the partial bullish rally.

On Downside it was mentioned that price should not lose 2670 otherwise further down side would be seen. Now for intra-day we have a minor support at 2575. However breaking this support opens doors towards 2510. When ETH falls below 2500, it enters a danger zone since the next important support is the 3-Day EMA-200 at 2410 that needs to be kept to avoid any further sell-off.