hello, welcome to this ETH/USDT update by CRYPTO SANDERS.
CHART ANALYSIS:- Ethereum (ETH) rose marginally after the Paypal news, with the price moving away from a recent support point.
Following a low of 1,804.72 to start the week, ETH/USD jumped to an intraday high of 1,836.06 on Tuesday.
Despite the slight rise in price, ethereum continues to trade below a recent resistance level of 1,850.
A positive for bulls, however, comes as the 14-day relative strength index (RSI) broke out of its ceiling at the 43.00 mark.
Currently, the index is tracking at a reading of 43.88, with the next resistance zone near the 50.00 point.
In the event this target is reached, ETH will likely be back above 1,900.
I have tried to bring the best possible outcome to this chart.
Hit the like button if you like it and share your charts in the comments section.
Thank you
CHART ANALYSIS:- Ethereum (ETH) rose marginally after the Paypal news, with the price moving away from a recent support point.
Following a low of 1,804.72 to start the week, ETH/USD jumped to an intraday high of 1,836.06 on Tuesday.
Despite the slight rise in price, ethereum continues to trade below a recent resistance level of 1,850.
A positive for bulls, however, comes as the 14-day relative strength index (RSI) broke out of its ceiling at the 43.00 mark.
Currently, the index is tracking at a reading of 43.88, with the next resistance zone near the 50.00 point.
In the event this target is reached, ETH will likely be back above 1,900.
I have tried to bring the best possible outcome to this chart.
Hit the like button if you like it and share your charts in the comments section.
Thank you
