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If Ethereum got rejected from major resistance of $2,284 we might get a potential Ethereum selling opportunity. Ethereum has made today new local highs and great volumes are seen.
Bitcoin survived the major FUDs and maintained the price mostly above $30,000 but unfortunately, Ethereum couldn’t withstand so much coming and dropped to lows of $1,710. There was so much uncertainty last week that few analysts predicted Ethereum to even touch three digits. The prices kept falling and even London Hard Fork wasn’t enough to stop the descend.
Ethereum after a small accumulation and liquidity gathering below $1,730 level went up. Now ETH has renewed local highs at $2040, at each peak we see an increase in volumes – not a good signal for long positions.
If the price reaches a new local high at $2278 and the volumes are also high at that time, it could mean that liquidity to sell is collected and there is a high probability that the price could go down and we can find a good Ethereum selling opportunity.
We highly encourage you to use our analysis but this is not financial advice, DYOR.
