Ethereum Claws Back the $1300's

14 Eki 2022

Ethereum dipped deep into the $1100's after US CPI indicated yet again that inflation remains high, beating expectations. The dip was swiftly bought back, and we recovered the $1200's almost immediately, breaking through our level at $1235. Currently, appear to be making a run for the high $1300's with $1341 a barrier for now. Readers should have been prepared for resistance here, as we have highlighted this level daily for a while. Red triangles on the KRI are confirming resistance at this level. If we break through, then the next target is $1424, but this is ambitious. If we retrace, $1235 should provide support.