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Ethereum analysis for April 1, 2021

Looking at the chart on the four-hour time frame, we see that Ethereum encounters resistance at the previous high of $ 1945 and that we can now expect a pullback to better support on the chart at a Fibonacci level of 78.6%. If we find support there, then we can set our target at $ 2000 for Ethereum. The break below that Fibonacci level leads us to moving averages MA20 and EMA20. We are looking for potential support at $ 1800, then at $ 1700 instead of the previous higher support and break above MA200 and EMA200.

On the daily time frame, we first see a break above the upper resistance line that can become a support line. After the resistance at $ 1945, we see an Ethereum slowdown at this level and that a smaller pullback is possible at least to moving averages of around $ 1800 for Ethereum.

Christine Lagarde, President of the European Central Bank, has confirmed that the Governing Council of the ECB will reveal its decision in mid-2021 on whether to move forward with the digital euro, the digital currency of the Central Bank (CBDC).


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