The SEC’s decision to postpone many ETFs reversed the trend in cryptocurrencies. ETH, which found buyers at $ 1,730 before the news, broke the support of $ 1,716 directly and hung up to $ 1,630. ETH, which has withdrawn to a very important region in the wide time frame, continues to shed risks in the altcoin market. But what does the technical analysis show for ETH? What price zones should be followed?
Ethereum (ETH) technical analysis
The leader of altcoins, traded above $ 1,800 until recently, has come to a very critical area with the ETF delays. ETH, which generally manages to run this area as support, can move towards $ 1.716 – 1.777 – 1.835 and $ 1.915, respectively, if it can catch a buying reaction. But in this process, fundamental analysis will be as important as technical analysis.
Any time below $1,643 – $1,634 will increase the probability and severity of decline in ETH. Previously, the failure to protect this region brought a test of 1.578 and 1.550 dollars. Again, the same levels can be followed as support in possible decreases.
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