Stability Amidst Market Range Trend with Potential Downward Move

Ethereum shows stability with two significant resistance levels at $1640 and $1685, posing the possibility for a continued downward trajectory. A potential breach of the $1,602 support could lead to a decline towards $1,500.

9/3/20231 min read

Chart of Ethereum displaying stable price action within a defined range, highlighting key resistance
Chart of Ethereum displaying stable price action within a defined range, highlighting key resistance

In the midst of the current market's stable period, Ethereum has displayed a lack of significant variations. Owing to its historical responses when encountering two significant resistance levels at $1640 and $1685 within this range, there exists the possibility for Ethereum to once again respond to these thresholds and sustain its ongoing downward trajectory. There's potential for Ethereum to breach the support at $1,602, potentially leading to a decline into the vicinity of $1,500.