Technical Analysis – ETHUSD edges lower, bulls continue to vie for a breakout above 1,700
Posted on February 17, 2023 at 9:17 am GMTETHUSD is edging lower today following three days of advances that pushed it momentarily above the 1,700 area. It remains inside the nicely shaped 1,500-1,710 rectangle that has formed since January 16, in line with the 23.6% Fibonacci retracement level of the April 4, 2022 –June 18, 2022 downtrend of 1,510. ETHUSD made unsuccessful attempts to break down the rectangle on both the downside and upside, but the market appears to be in a fine balance at the moment. Market participants [..]