Can buyers reclaim the $1,300 range?



10/16/20221 min read

Over the past 24 hours, Ethereum has continued its downtrend after reacting at $1,340, breaking the $1,300 support, and hitting $1,275-$1,260. A positive reaction has been observed in this area. If Bitcoin and other indices remain above this support range, we can expect Ethereum to stay within this range, maintaining the current support. If the buyers can recover the range of $1300, the continuation of the upward movement to the targets of $1340 and $1400 is expected. Price crossing the $1,290 resistance and then holding the $1,270 support could signal a change in the Ethereum trend, at least in the 1-hour time frame.

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