Ethereum Price Analysis: ETH/USD finds support at key Fibonacci area
|- Ethereum has not evaded the crypto sell off on Wednesday and has fallen 7.29%.
- The market has found support at a key Fib confluence area marked on the chart below.
ETH/USD 4-Hour Chart
Today has been a serious bear day in the crypto world.
Ethereum is still over 7% lower despite finding some support recently.
There is a decent support level on the chart below where the 1.618% extension and the 38.2% retracement meet.
The retracement was drawn on the daily chart so not all of it is in the picture but it has worked to great effect.
There has now been a large hammer candle printed, which could also be a bullish signal.
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Additional Levels
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