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Ethereum changed little in the short term. It was traded at 1,093 at the time of writing. ETH/USD increased by 8.44% from yesterday's low of 1,042 to today's high of 1,130. Technically, the altcoin seems undecided, that's why we have to wait for a fresh trading signal.
In the last 24 hours, ETH/USD is up by 1.82% but it's down by 2.41% in the last 7 days. as you already know, the bias remains bearish despite temporary rebounds, so you have to be careful if you are looking for long opportunities.
As you can see on the H4 chart, ETH/USD found support at the 905.00 psychological level (historical level) and now it has rebounded. In the short term, it has dropped a little to retest the lower median line (lml) of the descending pitchfork.
The 1,042 immediate low represents static support while the 1,193 stands as static resistance. Its failure to take out the resistance represented by the weekly pivot point of 1,153 signaled strong sellers.
A new higher high, jumping and closing above the 1,193 could activate further growth.
A new lower low, dropping and stabilizing below the lower median line (lml) and under the 1,042 could activate a potential sell-off towards the 905.00 again.
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