Ethereum's price is still bullish on the 4H and 1H TFs!



10/31/20221 min read

Yesterday, Ethereum fell as expected, continuing its downward movement to the $1,560 range. Ethereum's price is still bullish on the 4-hour and 1-hour time frames, and considering that it has broken a dynamic resistance, it can be associated with a positive reaction with a pullback to this range, located at the price of $1510-1540. Therefore, you can consider the specified range for today. As long as this support holds, Ethereum can rally to the resistance in the $1,700-$1,780 range. A negative divergence has been detected on the RSI indicator, which we can expect the next move will probably be Ethereum's last move for the short term. After that, we expect a deeper correction from the next resistance.

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