Last week was quite calm when it comes to quoting ethereum cryptocurrencies. The exchange rate throughout the week fluctuated between 790-950 dollars, which resulted in the formation of local consolidation. Currently, the demand side has defined the lower limit of the side trend in the area of defended support in the region of $ 790.
Currently, from the point of view of the lower time interval, local support located around 860 dollars is crucial. In the event of a breakthrough, I expect continuation of the upward rebound at least near the peaks near the said level of $ 950.
A level defense of $ 860 is likely to be the starting point for continuing last week’s consolidation within a smaller range.
Risk Warning: The content of this analysis is for informational purposes only and does not constitute investment advice.
