The great influence of the ETH in the DeFi space, the TOP-2 in terms of trading volumes, did not save the price from a strong fall wave. If at the end of 2021 on a weekly timeframe you could see how buyers are actively keeping the price, in the first month of 2022 ETH was easily merged. The critical point of $3000 from which the last local fall wave was formed in September 2021 is under the control of sellers. Trading volumes are low and the prospect of the fall continuation is up to $1700. However, will sellers be able to continue to put pressure on the ETH price without correction? In the weekly timeframe, we see that after trying to fix below $2300, buyers showed character. The $2300 mark is the middle line of the $1700-$3000 consolidation range. In this range, the ETH price was traded from May to July 2021. At the moment, we do not expect a strong growth wave and the maximum target is $3300. The fact is that in addition to the important range of $3,000, in which in the past there was considerable interest from buyers, the trend line was lost. Buyers kept this trend line throughout 2021. Therefore, given these facts, one should expect another fall wave in the ETH market globally. ETH Technical Analysis On The Daily Timeframe https://www.tradingview.com/x/zVUMKvZd/ The concentration of local interest of buyers around the $2300 mark is perfectly noticeable in the daily timeframe. Consolidation on increased volumes and false b...
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