So Readers, #Ethereum #ETH #ETHUSD achieves a 50% #Priceretracement, The All Time High of $4,356.99, to the 50% #Priceretracement of $2,178.49. So the next level down for Major #Support for #Ethereum #ETH #ETHUSD, is the 61.8% Fibonacci ratio at: $1,664.37. Fibonacci retracement level theory suggests that, because the 50% #Priceretracement of $2,178.49 was achieved recently, that the Fibonacci retracement level 61.8% is next!
The Fibonacci retracement levels are 23.6%, 38.2%, 61.8%, and 78.6%. While not officially a Fibonacci ratio, 50% is also used. The indicator is useful because it can be drawn between any two significant price points, such as a high and a low.
- Published: 23 May 2021 23 May 2021
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