Ethereum Technical Analysis! Key Levels to Watch!

Currently Ethereum doesn't look too good from a TA perspective vs Bitcoin. On the 1D chart, we can see the red diamond on the RSVP Extractor called the drop, then the yellow shaded areas (oversold on RSI) called the bounce. Although there are 3 resistance points.

The first is a trendline resistance around $3,600. The next is the immediate trendline resistance at $3,359 with coincides with the horizontal support at the same level. If ETH can't break this level, I can see it retesting support around $3,050 then falling to $2,750 if that can't hold.

For the bullish scenario, ETH needs to break the $3,359 resistance then we're looking at the $3,600 trendline resistance, and finally the $3,842 horizontal resistance.

If you had any question about my technical analysis above or my indicators used, please send me a DM or comment below :)

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