For more than two weeks, the price development of Ethereum (ETH / USD) has been extremely sluggish sideways. Because without any major impulses, the price of the coin oscillates around the level of USD 1,780. On the one hand, this can be interpreted as a lack of buying and selling interest. On the other hand, staying at lofty heights reveals a certain strength in connection with a tension, which should discharge sooner or later. In this context, it is noticeable that demand always experienced increased interest in the USD 1,755 area. As a result, the starting position remains bullish above this. A rise above the round mark of USD 2,000 allows further upside potential up to an initial USD 2,090, before a further appreciation to USD 2,630 should take place.
A decline below USD 1,725 per day's closing price, on the other hand, could initiate a consolidation and provoke a setback to USD 1,440. Below that, a clear sell signal with potential of up to USD 1,150 or USD 1,100 would be activated.
If you liked the analysis, we would be happy to receive a like or subscription. You support our work tremendously!