Ethereum (ETH) Drops Sharply but Maintains Crucial Support

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In Brief
  • There is long-term support and resistance at $360 and $480, respectively.

  • Technical indicators show oversold conditions

  • The price could be nearing the end of its correction.

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The Ethereum (ETH) price has dropped sharply since reaching a high on September 2. However, the long-term support structure is still intact, allowing for the possibility of continuation to the upside. Long-Term Levels At the beginning of July, the Ethereum price broke out above the $360 area, something it had not done since July 2018. The same area also acted as the top of the upward
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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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