Ethereum Looking Promising On 1-Week Chart
Crypto analyst RLinda has a promising analysis on the Ethereum price on the TradingView website. This analysis focuses on the ETH price on the one-week chart, which has maintained bullishness despite the crash. This follows the continuous accumulation from the low $2,000s level as the price recovers.
The crypto analyst highlights that Ethereum is seeing buyback from the market following the crash. This suggests bullishness among investors despite the price remaining low at this point. As for the chart, the analyst points out that “a very promising technical situation is forming on W1.”Key Levels To Watch
The Ethereum price being bullish is positive for the cryptocurrency. However, there are still various important levels to watch that serve as important levels for the cryptocurrency to achieve this goal. This includes both support and resistance levels along the way.
In this case, RLinda places significant attention not he $2,717-$2,817 resistance area. Mainly, these areas serve as the most important resistance levels in this drive upward. According to the analyst, beating this resistance and forming support will provide the ETH price a promising liquidity target above $4,000. A full rundown of the resistance levels is $2,717 and $2,817, while the major support levels from here include $2,518, $2,425, and $2,400.
RLinda believes that the whales’ . “After Friday’s test and pullback, the price is back to the level, which increases the chances of a breakout,” the crypto analyst said in closing.