ETH/USD looks for support

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Source: Dukascopy Bank SA


The price for Ethereum dropped to the 2021 summer low level at 1,721.00 on May 11. The low level acted as support and caused a retracement to the previous 2022 low level zone, which acted as resistance. On May 26, the ETH/USD pair was back at the 1,721.00 level.

If the price passes below the 1,721.00 level, support could be found in round levels, which impacted the asset price throughout 2020 and 2021. Namely, the 1,550.00, 1,400.00 and 1,000.00 levels are expected to act as support.

Meanwhile, a potential recovery is set to face the resistance of the 2,165.00/2,320.00 zone, which acted as resistance during the middle of May.
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