After rising to a week high of $838 on Sunday, a downwards price correction attempt began pulling ethereum price downwards to a day low of $685 on Monday. Even though the price of ether dipped below the support level around $713.24, it rose within less than 8 hours above this significant support level which corresponds to the 61.8% Fibonacci retracement. The market’s bulls took the upper hand again after this temporary overshoot below this seemingly strong support level. Right now, ethereum price is below the upwards trend line which has been marking the market’s movement since April 7th.
Will the price of ether rise again towards the resistance around $849.08?