ETH – “Volatility Expected”

4-Hour Analysis:

Big Picture: Ethereum is regaining its strength. It has trailed in overall strength since the post-merger event, but it has now recaptured a few important levels and could be preparing for more. To stay aggressive, Ethereum must maintain its price above the EMA-100. However, a significant shift in events could occur as Ethereum begins to persist over 1425.

On the Upside price is currently approaching the 1370-1380 range levels once more. This range has been limiting the upside for over two weeks. Ethereum has suffered significantly at these levels. Moreover, a stronghold above these levels is required in order to extend the upside into 1425. Reclaiming 1425, on the other hand, opens up a broad range initially between 1425 and 1525, with the possibility to target 1680.

On the Downside the initial support will be provided by EMA-100 at 1360. Price might fluctuate around this EMA. However, below this level, the next supports are at 1330, 1315, and 1305. These intra-day supports are likely to provide decent support upon testing. Furthermore, the session’s main supports are still found around the 1280-1255 range.