2-Hour Analysis:
Big Picture: ETH was able to retake the crucial level of 1950, effectively negating the selling pressure. Currently channeling in a downward direction. ETH has to show a bit more strength to break through this channel and regain momentum in order to reach higher resistance regions once more. Overall, it appears that ETH is still in its early stages of range development.
On Upside ETH is looking to give a 4-Hour candle closing above the EMA-32 which has been a solid resistance lately. This level currently comes at 2035. Turning this level into support will be a huge boost for bulls that are then likely to target next resistance zones above at 2110 followed by congested resistance at 2150-2220. ETH faces strong congestion between 2150-2390.
On the Downside the early intra-day support is evident between 1925 and 1900. This is a very strong intraday support level, however breaking these supports exposes ETH towards lower supports at 1870, 1800, and finally the 1700s.
