Relevance up to 18:00 2022-08-06 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Black lines- bullish channel Ethereum is trading around $1,673. Price touched again the lower channel boundary it is in and is now bouncing higher. Today's low at $1,581 is important as a break below it will push price outside of the bullish channel. Ethereum continues making higher highs and higher lows. Respecting $1,581 is key for the continuation of the up trend. As long as Ethereum is trading above $1,580, we expect price to continue higher towards $1,900-$1,975.