Ethereum should hold this multi-month support to remain Bullish

What's in this article

This may be the last chance for the bulls to keep the Ethereum chart green as Ethereum currently stands on a very important support level.

Ethereum price today is $3,248.01 USD with a 24-hour trading volume of $10,809,237,817 USD. Ethereum is down 3.12% in the last 24 hours, with a market cap of $387,155,509,327 USD. It has a circulating supply of 119,197,741 ETH coins.   

Source: Tradingview

Ethereum: Analysis

As the daily chart shows, Ethereum has been respecting this support level since May, last year. Besides a few fakeouts, Ethereum never broke below the higher lows trend. If this support level is taken by bears, Ethereum will bleed to $2200, fib 0.5 support. Ethereum has local resistance at a $4000 psychological level.

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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