Ethereum Hits Our Target Then Retraces...

15 Ağu 2022

Ethereum reached our target of $2025, then sharply retraced. We gave up the 2K's entirely, and even cut through the $1900's, currently finding support in the high $1800's, in the thicket of a cluster of levels in this price area. The Kovach OBV is still strong, but does seem to have leveled off. News of 'the merge', a significant technical development and transition from Proof of Work to Proof of Stake, has been priced in, and it seems the fervor is over for now. If support in the $1800's fails, then our next level is $1748. If we rally, we must break $2025 before considering higher levels.