Ether recently broke some major supports around $200 level. Sellers also made some great resistances, which will probably cause many problems for buyers in the upcoming week.The price is currently moving in a range.
To start off, the 23.6% fibonacci retracement of the recent fall became a resistance, which buyers cleared at first, but failed to hold the price above it. And a resistance zone was then formatted a bit below this retracement.
A small bullish trend line was created after bullish reversal and this trend line is currently meeting with an upper bound of the support zone.
ETHUSD is lacking people again, which happens every time after such a price move, so the price will probably stay in a range for some time now, until someone decides make a big move again.
Small Edit: Price just touched the upper bound of resistance zone as this was published. If buyers succeed to push forward, there could be a test of ~$185 resistance.
To start off, the 23.6% fibonacci retracement of the recent fall became a resistance, which buyers cleared at first, but failed to hold the price above it. And a resistance zone was then formatted a bit below this retracement.
A small bullish trend line was created after bullish reversal and this trend line is currently meeting with an upper bound of the support zone.
ETHUSD is lacking people again, which happens every time after such a price move, so the price will probably stay in a range for some time now, until someone decides make a big move again.
Small Edit: Price just touched the upper bound of resistance zone as this was published. If buyers succeed to push forward, there could be a test of ~$185 resistance.