We can expect Ethereum's price to grow again

8 Şub 2023

Ethereum rebounded in the last 24 hours by positively reacting to the $1,639 support area and confirmed this pullback on the 1-hour time frame with the formation of a rare diamond pattern. The price rally also led to the confirmation of the bearish corner pattern, which sent Ethereum up to near the $1,714 resistance. From this range, if the Ethereum Dominance Index breaks its resistance, we can expect Ethereum's price to grow again. But because the general trend of Ethereum has ranged below these resistances, there is also the possibility of return movements. For today, you can consider the midline of the channel as a support area.