Ethereum followed the flag and hit our target

What's in this article

Yesterday we spotted a bullish flag on the Ethereum chart and predicted the price to rise to $3400 which was perfectly achieved. However, the concern is Ethereum bounced back from an important level.

 Ethereum price today is $3,358.11 USD with a 24-hour trading volume of $14,938,236,421 USD. Ethereum is up 1.16% in the last 24 hours, with a market cap of $400,093,585,205 USD. It has a circulating supply of 119,142,355 ETH coins.   

Source: Tradingview

Ethereum: Analysis

The price is still under EMA on the 4-hour chart so the higher timeframe remains still bearish. Nevertheless, we can call this ‘bounce off’ a pullback to get some fresh buyers and keep the ascend on. The next major resistance for Ethereum could be at the trend line of lower highs however, there is no local support before $3000 major support.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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