ETHUSDT ! The price has hit strong resistance. What next?😼

٤ أغسطس ٢٠٢٢

Ethereum is forming an upward correction after stalling at 943 without much of a visible price channel. Just a chaotic move that catches up with the strong resistance line formed in March 2022.

On the chart we see price breaking through the local range and essentially forming a down and up shakeout and hitting the resistance line, after which there are several attempts to break this level with pullbacks down and updates of local lows.

I assume that above this 1750-1800 zone there is a rather strong limit zone that may prevent the price from going up. I expect the fall of the price after fixing inside the range (under resistance) The short-term target is the support of the range, and the medium-term target is the support zone of 1264.

Regards R. Linda!