Next resistance will be around 1500

Ethereum is now down a sharp 20% on the week as the cryptocurrency crashes into the $1800 support. It had been trading inside a symmetrical triangle pattern over the past three weeks but ended up breaking this consolidation on Friday as it dropped to $1800

Yesterday, ETH showed signs of weakness after spiking into the Feb 2021 highs at $2036. It rebounded to close the daily candle for around $2245. Today, however, the sellers lost control and pushed ETH as low as $1700.

It has found support at $1800, a round psychological number bolstered by a .786 Fib Retracement. A break beneath here could send ETH much lower over the coming weeks.

What do you think?

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  1. It never went to 1700? According to my charts it has been above 1800 for a while now and had only fallen to the 1820 range. Where is this supposed 1700 fall today? Not that I’m complaining, I want that 1500 drop.

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