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  • Ethereum has not evaded the crypto sell off on Wednesday and has fallen 7.29%.
  • The market has found support at a key Fib confluence area marked on the chart below.

ETH/USD 4-Hour Chart

 

Today has been a serious bear day in the crypto world.

Ethereum is still over 7% lower despite finding some support recently.

There is a decent support level on the chart below where the 1.618% extension and the 38.2% retracement meet.

The retracement was drawn on the daily chart so not all of it is in the picture but it has worked to great effect.

There has now been a large hammer candle printed, which could also be a bullish signal.

Ethereum

Additional Levels