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Ethereum rose by about 2% in this new month so far. The rate against the dollar found some support around the previous distribution on the monthly perspective. Quarter’s DVAL seemingly serving as support for now. The rate fell the second month in the row and keeps the lower periodicities with a possible bearish bias with tested supportive levels.
The daily perspective found support around a prior Quarter’s VAL close level which brought the rate back into the Quarter value, targeting its VWAP. ETH/USD might find some resistance around the mentioned QVWAP while absorption above a prior swing high serves for balanced behavior.
The hourly perspective might be able to find support around the DVAL or lower VWAP close level while the possible absorption behavior around the previous swing back from January brought the market into the current rotational behavior.
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