ETH - 6h. Buyers want to test of $1760-1800

1 Mar 2021

The rapid fall of the ETH market made its investors think about the power of this coin. In 7 days, the price of ETH fell by 35%. The main horror that investors experienced took place on February 20-23, when the price of ETHUSDT fell very sharply from $2000 to $1350. The sharp drop in ETHUSD was facilitated by a sharp correction in the BTC market:

However, the complete surrender of buyers took place after the loss of the range of $1760-1800. The chart shows that on February 22, sellers managed to push the price below this range on large volumes. It was after the retest of the range of $1760-1800 that the ETH market collapse continued with renewed vigor.

At the moment, buyers are trying to form a new growth trend, but the initiative so far belongs to sellers. It is the test of $1760-1800 that will become clear, sellers still have strength to continue the correction.

To continue the local growth of the ETH price, buyers need to hold the liquid zone of $1390-1440. A test of this range on low or medium volumes will give buyers a better chance of continued growth towards $1760-1800.

P.S. Our ETH idea worked well and the price made a minimal correction. Therefore, we will soon make a new global ETH idea:

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9 Mar 2021

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