Ethereum price battles with $1,150, these are the targets

As you may have noticed, not only has the price of bitcoin (BTC) fallen, but the price of ethereum (ETH) has also been hit hard. Ethereum will remain in a for the time being bearish zone if the price were to fall below $1,050 again.

Over the past few days, we’ve seen ethereum make a local bottom at $880, a level we haven’t seen since January 2021.

Ethereum Fibonacci, Support and Resistance

However, the price rose immediately after the bulls thought this was a good price to get back in. The price shot in nearly a straight line to $1,150 the following day. ETH managed to rise through the 50% and fairly soon after through the 61.8% of the Fibonacci retracement†

However, we see that there is a lot of resistance around the current level. The price also failed to break through the 78.6%, which caused a small drop in price. The price now appears to be looking to move sideways in the near term.

There is clearly resistance around $1,150 for ETH right now. Should we convincingly break through this, we will see the next resistance at $1,258. This is also directly the resistance of the zone where ETH has fallen after the crash. So if we eventually break through this as well, we could see much higher resistance levels.

In addition, a strong support zone is between $1,015 and $1,045. This zone will prevent us from falling back below $1,000 and revisiting the low of recent days for the time being.

What Do Crypto Insiders Analysts Think?

Ethereum is also discussed in the Premium environment for members of Crypto Insiders. In this environment, our analysts just shared a new technical analysis where they share their expectations. If you want to see these analyses, take a look at this page. Here you can also get in touch with the analysts and they will answer any questions you have about the market. We will also keep you up to date with the latest developments around ethereum and other cryptocurrencies here every day.

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