Ethereum Resistance at 0.618 fib lvl.

Updated

Looks like Fib 0.618 level is good indicator for Ethereum resistance. WOuld make sense if we see 1-2 daily candles closed above fib level we might see some bulish moves.

Note

I think this will be bearish. too much of resistances at single point. Black line is resistance of lower highs, also Fibonacci level.
Because this is USD pair - price depends on BTC price. So of course if BTC go up - eth can be still and will look like it's going up too. That is fake breakout.
I think ETH will drop to 170$ level. For few days maybe even lower.

Note

If we apply reversed fib. - then it shows some support at 221$

tommix

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