Ethereum Rejects Higher Levels

٢٧ يناير ٢٠٢٢

Ethereum made a concerted effort to attain higher levels, touch our target of $2651 right before the FOMC meeting. Subsequently, it dropped sharply, reestablishig the value area in the $2300-$2400's. The Kovach OBV has fallen as well, though certainly not to the extent where it was with the selloff. We should see support from $2324, but if not, $2143 should be a floor for now. On the upside, we will have to break $2651, which seems to be a significant barrier before we can attain higher levels. After that, $2762 and $2852 are the next targets.