Ethereum Sells Off After Russian Forces Invade Ukraine

٢٤ فبراير ٢٠٢٢

Ethereum has crashed after the Russian invasion of Ukraine. We have smashed through the low at $2556, a relative low that we thought may be constituting an inverse head and shoulders pattern, and therefore a possible attempt at higher levels. However, a global market selloff broke this low and headed deeper into the 2k handle. We are currently finding support at $2324, but are not really seeing much of a pivot or attempt at higher levels. If we are able to smash through $2324, then $2232 is next target. If we are able to see a pivot off current levels, then $2454 is the first level that will likely provide resistance.