Ethereum Struggles to Regain $2K

24 May 2022

Ethereum has held a narrow range between $1906 and $2143. The Kovach OBV has remined pretty flat, with a dip recently at the most recent selloff to lower levels. The narrow range usually precedes a breakout either way. There is a conspicuous lack of buying interest in crypto, and we fear we may test lower levels again, with $1700 a likely lower bound for now. This was the low of the selloff on the 12th. If we encounter buying momentum, then $2232 and $2324 should provide resistance, with the $2400's a likely ceiling for now.