1-Day Analysis:
Big Picture: Additionally, Ethereum wants to push for aggressive panic short coverings. Over the span of the previous three sessions, Ethereum has consolidated in a new range between levels 2180 and 2250. Bulls can lead some aggressive short-coverings, which is likely to post some more recovery from the pair, as Ethereum now requires strength to break over the 2250 mark.
On the Upside At the moment, Ethereum is approaching the 2250 mark. If the price breaks over this Fibonacci retracement barrier, it will be able to advance towards the next obstacle, which is located at 2280. The 61.8% Fibonacci retracement is represented by this stronger barrier of 2280. It is advisable to take a profit on strength around these levels. If price is climb more forcefully, it is still necessary to break both of these barriers.
On the Downside there are minor supports at levels 2240 and 2230 for the session. The next supporting range is from 2215 to 2210 levels below these levels. After the price deviated below this support yesterday, a greater momentum was observed. These supports should hold for the duration of the session, but a break below 2210 will drag the price lower towards the levels of 2180 and 2165.
