Last week we saw the ether price action soar bullish until its sudden fall. This left the weekly closing candle as a pin bar. Price made history by trading at new higher highs. We saw price break past level 2146.1323 which was the previous high and went as high as level 2538.3030 before sellers regained control of the market.

Ether H4 chart 21 April 2021
ETHUSD H4 chart 21 April 2021

We saw the market drop in what seemed to be a crash. This was the most price had dropped in a day. From level 2538.3030 price fell to level 1930.7311 before closing at level 2146.1323. This level proved to be our new support as price has had tested it several times . Now with price currently trading at level 2278.0190 will the higher high be reached or will sellers continue pushing the market bearish ?

Our analysts believe that if price breaks below level 2146.1323 then there are huge possibilities we could see the market continue dropping. For now we strongly believe that the ether price action currently signals bullish possibilities. The new higher high could possibly the next resistance zone .

Ether Daily chart 21 April 2021
ETHUSD Daily chart 21 April 2021

As for now price currently trades in between level 2278.0190 and level 2146.1323. these are areas where price currently consolidates within. We expect a breakout in either directions from here forth.

NB: Warning Before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consider position sizing before entering a trade and manage your risk accordingly. Please read the risk warning before deciding to trade the markets

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