ETH has been sideways for two weeks on the daily chart, finally welcoming a breakout with volume. It’s a matter of regaining confidence.
The previous ETH analyses have consistently mentioned not continuing in a weak trend. The ETH to BTC exchange rate has finally begun to show some strong signals.
ETH is currently oscillating at a high position. It aims to break above 1950 and is attempting to break the long-standing downward trend line on the daily chart. There is a chance to build a bullish framework on the daily level, leading to a major reversal.
For small-level choices, a breakout above 1950 absorbed the selling pressure and broke upwards. Pay attention to the support situation on the next pullback. The key short-term position is 1850.
A few positions to pay attention to
Support position
First position 1920
Second position 1870-1850
Third position 1780
Resistance position
First position 2022
Second position 2104
Third position
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