Eth chart analysis 2.26.2021

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Ethereum, just like all the alts suffered the same symptoms, when BTC started it's downtrend, ETH dropped more than 33% to 2018's ATH level, which seems to serve as a strong support level. It is early to tell, but I think that will be the new support level and we may retest this level somewhere around 1355 USD.

Weekly chart is interesting, because unlike BTC, here is the first red candle, the week is not over yet, but we haven't seen something like this for a long time now. I wouldn't think this could be a warning sign, the upcoming hard fork in April and supply decrease will give a good boost to ETH's price.

Daily chart is more or less similar as BTC, this is the first greater correction for a long time, but nothing I would worry about, or not yet.

4h chart shows the first sign of a retest to a higher level, 1800 is a resistance level, I expect a breakdown from there, we could bounce between 1700 and 1400 for a few days.

1h chart is similar to BTC, we have some early signgs, but it's still a bit bearish, strong resistance level between 1550-1660.

 

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