ETH – “Ranged-Bound”

4-Hour Analysis:

Big Picture: The price activity remains weak for another session. Ethereum is currently in a no-land, man’s with both buyers and sellers confused. Such conditions result in low volumes and thin price action. To improve the situation, Ethereum must breach either side.

The Upside the early resistances continue at 1315 and 1319. If Ethereum gains strength above both of these levels, it will provide a significant intra-day boost to buyers. Above these, a stronghold would open the way for 1370-1380, followed by 1390-1410 range levels.

On The Downside for more than 30 trading sessions, Ethereum has remained firm maintaining these range lows. Multiple supports located between 1280 and 1220 have made their way up and stopped the fall. Ethereum must maintain these supports in order to keep active sellers away from the charts. Because losing these supports might trigger a broader sell-off.