Ethereum Technical Analysis: ETH/USD could receive a blow to the legs, by the bears, despite shooting 5% higher
|- Ethereum makes an advance of around 5% initially on Tuesday, before slowing down.
- ETH/USD gets stopped at its session highs, after being caught by bears waiting in the bushes heading into $550.
- Chunky supply zone for Ethereum seen running from $540-550, where the price was knocked back in the session and on 12th June.
ETH/USD 30-minute chart
Spot rate: 534.91
Relative change: + 3.30%
High: 548.80
Low: 515.10
Trend: Bullish
Resistance 1: 540.00, supply zone entry.
Resistance 2: 548.80, today’s (Tuesday) high.
Resistance 3: 570.09, (resistance on 30-minute)
Support 1: 531.00, (support on 30-minute)
Support 2: 520.00, 50MA.
Support 3: 508.06, 100MA.
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