ETH Technical Analysis: The Critical Point Of $1700

The panic sale of ETH during the week of 9 May ended in the main liquidity zone of $1700-$1900. This liquidity zone played a key role in May-July 2021. It was the maintenance of this range that allowed buyers to make a growth wave with the final target of $4868. https://www.tradingview.com/x/nRcdlRv0/ Sellers were unable to update the local low during the trading week on 16 May. This is a good sign to start the reversal with the first target of $2600. If you think that ETH is not the same as before and the prospect of its growth and impact on the cryptocurrency market is less significant – analyze how other cryptocurrencies have fallen. Few have been able to maintain local lows since May 2021. The fact that ETH has been able to do so shows its importance to investors. However, it should not be forgotten that the price of ETH broke the trend line, which buyers have held since March 2021. Therefore, the mark of $ 2600 may contain hidden aggression of sellers, which is immediately activated in the test mark. In this case, if buyers are able to keep the mark of $2100, we will expect to continue to form a local wave of growth with the final target of $3700. The nature of the price increase will make it clear whether buyers have enough strength to update the historical high. ETH Technical Analysis On The Daily Timeframe https://www.tradingview.com/x/blgY56Qn/ Analyzing the movement of the ETH price on the daily timeframe, we see a d...