The market saw a nice pump recently and Ethereum is once again trading above its recently created resistance ( After breaking the ATH ). The current price is $4668 and it went above $4700 but could not hold there. The resistance above that is still at $4780 and it is the resistance that must be broken for a new ATH hunt.
The market still looks weak to me even after this pump and even the volume is not that good in either of the tokens ( BTC or ETH ).
Let us look at the two major short term trendlines that Ethereum is going to test. Right now we are above the support, that is the resistance that was broken after which we were able to go above $4700, you can see the chart in the screenshot below.
The second support is where Ethereum can hunt for liquidity, it is at $4474-4480 and that is where we can easily come but I am not giving any financial tips for future trades so please do not open short trades here. I am against the future trading and whatever you want to do, please do your own research.
For now we are in the relied zone as Ethereum saw a least value at $4200 on 1st on September since recent All time high. Let us see what the market has to offer us in next few days, the FOMC meeting is around the corner and it will had a great impact on the market.