ETH - 4h. Buyers return the mark of $1270.

28 Jan 2021

After setting a new local high on January 25, the ETH market began to correct. In the previous two days, sellers attacked the mark of $1270. In the previous idea, we wrote about the importance of this mark for the continuation of the upward trend in the price of ETH

Yesterday, during the fall in the price of BTC, buyers of ETH for some time gave out under their control the level of $1270. However, if you look at the 12-hour candle, the sellers did not have the strength to fix the price below this mark:

To continue the growth trend, buyers need to determine how many sellers remain in the ETH market. Therefore, before testing our $1580 target, we will expect to repeat the test of $1270 . Only then will we be sure of continued growth.

An alternative scenario will take effect if buyers do not withhold $1270. In this case, sellers will continue to adjust the price in the ETH market to $1,200 (Black scenario)
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