Ethereum (Complete Technical Analysis) for BINANCE:ETHUSDT by Dr.Ross

Ethereum lost $ 3,500 support during the downtrend, But it continued to be in good demand and is now looking at key resistance at $ 3,650.
Ethereum traded higher at $ 3,634; It then lost $ 3,550 support and fell below the 100-hour moving average.
But Ethereum still seems to be in good demand above the $ 3,350 support level ; As the $ 3,375 price floor reached a new uptrend. Resistance levels of $ 3,500 and $ 3,550 were broken. So far, the Fibonacci 50% level has returned to the bottom, falling from $ 3,634 to $ 3,375.
In the ETH / USD pair’s hourly chart, the downtrend line, which had created resistance in the $ 3,560 range, has also been broken. ETH is currently trading above the $ 3,550 price level and the moving average.
In the current situation, the price is completely behind the level of Fibonacci 76.4%. We consider the nearest resistance level upstream to around $ 3,600. In the following, the first significant resistance is observed around $ 3,650. Crossing it will probably pave the way for a new upward movement. In that case, it is possible to climb up to $ 3,720. Above that is the key resistance of $ 3,800 ahead.
But if Ethereum is not able to climb above $ 3,650, there is a possibility of a fall. In this case, the first support is expected around $ 3,550.
Key support is currently in the $ 3,520 range and moving average. Any fall above these levels will increase the probability of Ethereum falling to the main support of $ 3,400.

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