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      Ethereum reversed from resistance area

      Ethereum cryptocurrency prices recently reversed down from the resistance area located between the round resistance level band of 3000.00 and the 61.8% Fibonacci correction of the sharp previous downward ABC correction (2) from the start of February. The downward reversal from this resistance area triggered the active correction 2.

       

      Given the strength of the active daily downtrend and the worsening sentiment seen across the market today - Ethereum cryptocurrency is somewhat expected to drop further in its price towards the next support level 2300.00 (active correction target 2).

      ETHUSD - Primary Analysis - Mar-07 0854 AM (1 day)
      Last Updated: 07/03/2022

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