The Major Resistance Level

Ethereum has progressed as expected, touching its support level and rebounding upwards. Short-term challenges include two resistance levels (0.236 and 0.5 zones in the four-hour Fibonacci retracement). Observing whether it can overcome these levels is crucial to approaching its primary resistance once again.

1/25/20241 min read

Ethereum analysis - Progress as anticipated, touching support, rebounding upwards. Short-term challe
Ethereum analysis - Progress as anticipated, touching support, rebounding upwards. Short-term challe

Ethereum has progressed as anticipated, touching its support level. The price has since rebounded upwards. In the short term, it is facing two resistance levels (the 0.236 and 0.5 zones in its four-hour Fibonacci retracement). We need to observe if it can overcome these two levels to approach its primary resistance once again.