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Ethereum rebound not yet so convincing today

28 Jul, 2021

Yesterday Ethereum did rebound from a low point around 2153, to as high as 2320. It then dropped back close to 2200 before another wave higher has unfolded today. The price action is of course remarkably similar to that seen on Bitcoin so far today. That has allowed the next wave higher on Ether to reach 2335 so far. That further rise has just stalled in recent trading and it will need to reclaim levels above 2500 in order for the current trend resumption to really gather more pace. That is not to rule that out but there is still technical resistance in place just above that level. The 100 day moving average is behind that, currently in place at 2528. The range seen so far today has been covered by 2241 to 2335 and it is currently trading at 2294. All the while that 2115 continues to cap any relapse, the trend higher will remain intact

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