Ethereum Lifting Higher 3.2% By "London" While Testing Macro Bracket High Sellers

Trader • Aug 5, 2021 at 4:24 PM EDT

Ethereum lifted higher by the “London” upgrade and is up by about 3.2% while testing the swing highs and selling area back from March.

Ethereum lifted higher by the “London” upgrade and is up by about 3.2% while testing the swing highs and selling area back from March. The area above the highs might be targeted for absorption while the buyer’s goal may be the rotation towards the previous Quarter’s VAH close level. Lower near-term levels could serve as support by positive auction.

The rate is boosted while there is caution around the mentioned swing highs with slight retracement signs. Also to be noted: the median to macro perspective testing the bracket high on the monthly periodicity could serve as a pressure factor.

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