ETH - Possible Scenarios
Ethereum's current position was close to the resistance level around $3,300 and the moving average; the Fibonacci level is also in the same range higher, around $3,320, the first serious resistance. But now it is near the support area.
A move that opens the way to the top of this range will probably begin a new uptrend soon. The next significant resistance is expected to be around $3,400; Crossing it will likely turn the bullish movement into a bull movement. In this case, the price is likely to rise to $ 3,550 very fast. But if #ETH cannot cross the $3,300 resistance level, it will probably take a downtrend. In this case, the nearest downstream support level is around $3,250. In this case, the $3,200 level plays a key role. Closing the candlestick below this level would put the risk of a sharp fall and a fall of $3,000 on Ethereum psychological support.
A move that opens the way to the top of this range will probably begin a new uptrend soon. The next significant resistance is expected to be around $3,400; Crossing it will likely turn the bullish movement into a bull movement. In this case, the price is likely to rise to $ 3,550 very fast. But if #ETH cannot cross the $3,300 resistance level, it will probably take a downtrend. In this case, the nearest downstream support level is around $3,250. In this case, the $3,200 level plays a key role. Closing the candlestick below this level would put the risk of a sharp fall and a fall of $3,000 on Ethereum psychological support.
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