Day Analysis

Big Picture: Breach of 3000 level unleashed aggressive bears which brought carnage over charts. The mid-point was compulsory for bulls to hold to avoid this sell-off. However I believe the sell-off is not done and will be completed once range bottoms are tested once more. Any pull on the upside will be presented as an opportunity to “Sell on strength”.

On Upside ETH will face immediate resistance around 2520-2550. Followed by next level of resistance is likely to seen around 2650-2700 which can act as top for the day. If price observes a break above this level then max we could test is mid-point once more at 3000.

On Downside first support is likely to be seen around 2150 followed by 2080. However breach of that level opens door for 1965 and potentially Range-Bottom which will serve as bottom for the day.