Ethereum quotes have been lacking a clear direction for some time now. Looking at the D1 interval, the key support remains the zone at $2,850, which has already been tested by the market several times. If yesterday’s rebound continues, the price may move towards resistance at $3,236, where the average of the last 100 periods runs, marked on the chart with a blue line.
However, in order for a clearer trend to develop, the market would have to break out of its current structure. A break below the support level at $2,850 would open the way towards $2,190, while a break above $3,540 would give a chance for a return to the uptrend. At this point, the direction remains undecided.
Ethereum – D1 interval | Source: xStation5
On the lower H1 time interval, we drew attention to the average and 1:1 geometry. Despite the initial supply reaction, the price managed to break through both significant resistances – $2,932 and $2,972. In the short term, this pattern increases the chances on the demand side and may support a scenario of further upward movement, provided that the broken levels are maintained.
Ethereum – H1 interval | Source: xStation5
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