Ethereum Price Analysis: ETH/USD 1-Hour chart recovery halts at key Fibonacci level
|- Ethereum has bounced back on Thursday after a few tough sessions.
- The price has just met some intraday resistance at the 38.2% Fibonacci level.
ETH/USD 1-Hour Chart
Ethereum fell around 27% from the high seen on February 18th.
Now there have been some signs of a small recovery but more data is needed.
Today the price has moved 4.5% higher but stopped short on the 38.2% Fibonacci level (240.00).
For the downtrend to continue a close below 215.00 would be needed.
On the upside, the next resistance is at 250.00 and on the chart below you can see it had been used many times.
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Additional Levels
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