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Forex Analysis & Reviews: 11.08.2022

Relevance up to 16:00 2022-08-12 UTC+00

Blue lines – Fibonacci retracements

Ethereum reached the $1,900 level as expected by our recent analysis since the price respected the bullish channel it was in. Price continues to make higher highs and higher lows. Price has reached the 38% Fibonacci retracement of the decline from $3,579. This is important short-term resistance. Big test ahead for Ethereum bulls.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Alexandros Yfantis,
Analytical expert of InstaForex
© 2007-2022

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