From yesterday’s $4868 all-time high Ethereum dropped and found support at $4442 at fib 0.786 just above the EMA 100.
The price plunged as a result of Bitcoin correction to the $62,000 range and pretty much recovered as Bitcoin reclaimed the $65,000 mark.
Ethereum has local resistance right above at fib 0.5 near $4597. If the resistance is broken above this level the Bullish trend can resume again, however, the chances are it might retest the local support fib 0.786 before the final takeoff. The target we are looking for Ethereum is at fib -0.236 at the $4995 mark.
