Ethereum Investing: Here’s Why The Price Of $1480 Is An Important Key Point!

The year 2022 is currently not a good year to take into account in terms of profit or investment. Indeed, most investors have seen the value of their portfolio gradually turn negative. However, a increase occurred recently hit the crypto market, bringing the Ethereum blockchain from $1000 to around $1500.

Unfortunately, at the moment Ethereum (ETH) has no failed to break through the $1620 barrier and has been down slightly for a few days now.

So will the blockchain manage to stay above 1480 dollars? Let’s see together why this key point is now important!

Why is the price of 1480 dollars an important key point?

Ethereum blockchain price is currently trading under the $1,560 barrier and the 100-hour simple moving average.

Additionally, “Ethereum is also trading below the 76.4% Fibonacci retracement level of the upward move from the $1,488 low to the $1,662 high,” as market expert Aayush Jindal clarifies. financial.

Aayush Jindal also adds that “Ethereum is still above the $1500 support. To put it simply, there is a key rising trend line forming with support near $1,500 on the hourly chart of ETH/USD.

He adds that “immediate upside resistance is found near the $1,530 level. The first major resistance is near the area of ​​the $1,550 and the 100 hourly simple moving average.”

Read also Crypto Price Prediction: Big ETH Fan Jim Cramer Turns His Back on Cryptos!

Note that if a sell move comes below the trend line, the price could go down towards the $1480 support then towards $1400 support.

💎 Receive your Free Crypto Watch

The “Quickly Done, Well Done” crypto watch: Every Friday at 8 p.m. sharp, receive our free crypto watch in your email inbox. 100% added value, 0% spam!

Leave a Comment