Ethereum Edges Higher

Apr 8, 2022

Ethereum has found support at $3200 and is trekking back up to our target at $3324. It has pivoted slightly, but the apparent bull momentum is quite weak, confirmed by the Kovach OBV which has barely budged with the rally. We are bound to face resistance at $3324, and it is unlikely that we will break this level soon, but if we do $3416 is the next target. If we break down, then $3042 should provide support and is the likely floor for now. We are likely to range between the aforementioned levels, establishing value for a while, before anything more interesting happens.