FxWirePro- Major Crypto levels and bias summary 
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FxWirePro- Major Crypto levels and bias summary 
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FxWirePro- Woodies Pivot(Major) 
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Potential Reversal Zone- $1800
Key Highlights
ETHUSD has been consolidating for the past four weeks after a massive rally. Crypto markets are trading higher despite hawkish FOMC meeting minutes. A temporary decline in US inflation also supports riskier assets like BTC. The successful upgradation of the Ethereum Shanghai testnet pushed Ethereum prices higher. It hits a high of $1669 at the time of writing, and currently trading around $1655.
Major support - $1550. Any violation below this level confirms major weakness. A dip till $1460/$1400.The pair holds above the short-term weekly moving average (21-W EMA ) and below 55 EMA. Any close above $1770 confirms further bullishness, a jump to $2000.
A short-term trend reversal may happen if Ethereum closes below $1300. A dip to jump to $1200/$1070 is possible.
Indicators (Monthly chart)
RSI- up trend (53)
It is good to buy on dips around $1600 with SL around $1450 for TP of $2000
Resistance
R1- $1660
R2- $1760
R3- $2000
Support
S1- $1460
S2- $1400
S3- $1300
