ETH – “Volatility Expected”

4-Hour Analysis:

Big Picture: ETH encountered multiple resistance levels, triggering intraday profit-taking. ETH is trapped in a neutral zone, with neither bulls nor bears beginning aggressive moves. For bulls, a breakout over 3052 is required to place ETH in bullish terrain, with 3200, 3400, and even 3800 as the next upward objectives. Bears, on the other hand, are attempting to drive ETH below 2500-2450 in order to reawaken fear and penetrate into the 2000 level, followed by range-lows.

On Upside, The initial intraday resistance level may be found at 2820. Breaking this re-opens the 2900-3000 level as an upside target. However, 3052 remains the critical barrier that bulls must breach in order to generate significant excitement towards 3200-3400 first.

Downside Intra-day support is initially seen at 2700, followed by 2680. The next key support levels are observed below them are at 2600, followed by the 2515 zone. Ideally, this is a significant protection level for bulls; but, if price continues to trade below 2450 for an extended period of time, bears are likely to intervene and seize control of the trend, with 2200 as the first downward objective, followed by 2000.