What ETHUSD is going to do?

3 Ağu 2021

The analysis is made on the 4h timeframe, a couple of scenarios could happen.

• The rally from 1712.94 to 2699.89 shows a bit of a pullback, price pausing a bit on the 0.786 Fibonacci level. There are a couple of scenarios:
  
• A - pullback to continue first to the 2400 support line
  
• B - if the 2400 support line is not going to hold, the price potentially could fall to the 0.5 Fibonacci level - 2206.42
  
• C - a move up to the original rally high - 2699 - is also possible
  
• D - in case the original rally high will not hold, we could see another short run up to the 2900 level which is a 3 month resistance level