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).
Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. If you are interested in following the latest news on the topic, please follow Finance Brokerage on Google News.