30th November 2021 | ZebPay Trade-Desk
Ethereum (ETH) has seen a correction in the past week, after witnessing a short rally and crossing the $4,550 mark, after which it fell by approximately 12% and hit lows of $3,915. This fall has fueled inflows into the asset, as many investors have been on the sidelines over the past couple of weeks. BTC dominance currently stands at 20.31%
ETH has witnessed a sharp correction and the prices fell almost by 19.5% from their peak of $4,867 making the weekly low of $3,915. Technically, on a weekly time frame, ETH has made a ‘ Cup and Handle’ pattern (Bullish Pattern) with a neckline at $3900. The asset has retested the support and has started moving upwards. Hence, we continue to remain bullish until the asset is trading above $3,900. However, to witness a rally, ETH needs to break and close above the resistance of $4,551.
Disclaimer: This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in cryptocurrencies viz. Bitcoin, Bitcoin Cash, Ethereum etc.are very speculative and are subject to market risks. The analysis by the Author is for informational purposes only and should not be treated as investment advice.
The post Ethereum Tuesday appeared first on ZebPay | Buy Bitcoin & Crypto.