The quotations of the ethereum cryptocurrency after the successful beginning of the week are currently in the first correction this week. The current recovery after breaking the local upward trend line has reached the level of support located in the price region of 860 dollars for one ethereum.
A possible breakthrough of the indicated support should be the starting point for a deeper sell-off, which can reach at least the area of 780 USD ethereum, where the next support region is located.
Still, keeping the increases seems to be the most likely scenario. Another goal for bulls is in this situation is the resistance located just above the round level of $ 1,000.
Risk Warning: The content of this analysis is for informational purposes only and does not constitute investment advice.
