Ethereum Still Bound by $3K

5 May 2022

Ethereum caught a lift with the rest of the crypto market. We were able to reach $2965, which is currently providing resistance as confirmed by a red triangle on the KRI. The Kovach OBV has picked up slightly but at the moment, momentum has stalled and we will need a lot more to break through 3K. If so, $3042 is the first level in the 3K's to provide resistance. If not, we could feel out the range between $2762 and $2965 with $2765 likely to hold as a floor price for now.