Ethereum, which had withdrawn before the inflation data from the USA, also experienced a rapid rise after the inflation data was announced as 6.4 on an annual basis. Could this rise be the beginning of a new trend? Or will it remain a reaction? At the time of writing, Ethereum is trading at $ 1554 with a daily decrease of 0.14%.
Ethereum chart analysis
Ethereum, which has fallen by about 14% from $ 1700 to $ 1460 in the last six days, closed the day at $ 1556 with an increase of 3.33% after yesterday’s inflation data announcement. When we examine the chart above, it is seen that the Ethereum chart is stuck in a narrow band between EMA5 and EMA21, similar to the Bitcoin chart. In this direction, the $1546 level, the daily EMA5, is the first support point, and the $1566 level, the EMA21, is the first resistance point.
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