Ethereum Seeks Lower $2K Handle

24 בינו׳ 2022

Ethereum has taken a nose dive from support around $2300. We have given up the $2300 handle entirely, and have fallen to support at $2232, confirmed by a green triangle on the KRI. The Kovach OBV is still quite bearish, and has taken a sharp turn for the worse with the recent selloff. Our longer term analysis of Bitcoin (see linked article) is looking pretty bearish, and this should bleed into the rest of the crypto market. At this point, we appear to be gunning for the lower 2K handle, where we should see support at $2087. In the event of a relief rally, we should see resistance from the range in the $2300's, with $2324 and $2556 standing out as notable targets.