Ethereum Testing Resistance Around September's Highs

Trader • Oct 16, 2021 at 7:41 PM EDT

Ethereum is up by about 1.1% against the dollar testing the daily highs back from September and might find sellers in combination with long liquidation.

Ethereum is up by about 1.1% against the dollar, testing the daily highs back from September, and might find sellers in combination with long liquidation which may leading the rate to retrace. The rate trades imbalanced above the Quarter's value with possible supportive buying around the DVAH.

Buyers could add to their core positions around previous VWAP close levels on the hourly periodicity. Crypto Total Market Cap with swing failure around the highs of about 2.5 trillion dollars. The bullish momentum in still intact, hence traders might wait for a balanced behavior to conclude further scenarios.

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