1-Day Analysis: Big Picture: Ethereum has been trading between critical levels on both sides. It is up against heavy opposition above while holding critical supports below. Such a circumstance has brought prices to an equilibrium level in which neither participant is making a significant effort to breach the range. Furthermore, the volumes are now at their lowest levels within the range, and average volumes are at their lowest for the year.
On the Upside there have been no notable price advancements. Ethereum struggled to surpass and establish any foothold beyond the 1880 resistance zone. Both the horizontal level and the dynamic resistance of EMA-50 kept any strength at in check. The same levels to maintain initial resistance during the session. The next resistances would be at 1900 levels, followed by 1920 through to 1940 levels.
On the Downside over the weekend, the support level of 1860 remained stable. No candle was able to close below this level of support. This maintains 1860 as the first support level, followed by the EMA-200 support at 1838.50. Below these, there is significant supports from the levels of 1830 and 1820, as well as major higher time-frame dynamic support.
