Ethereum Is Waving Flag

This support is important for the formation not to end.
Ethereum 235,4 USDT (-4,46%)

We see that Ethereum, the largest altcoin, is moving along with the market-wide decline today. Having tested the 250 USDT level the day before, ETH has seen the 228.0 USDT level today. However, the flag formation, which is an uptrend formation in Ethereum, which we basically like and which we have proven by researching purchase opportunities in its recent decline, continues.

Before the transition to the Ethereum 2.0 network, we see that the revenues of ethereum supply are still at the level of 80% profitability. For the investors who are curious about the relation of this with the price, we show it in the graphic below that we received from Glassnode.

      Technically, the support of the bullish trend with Ethereum in possible corrections also coincides with the 50-day moving average level of $ 214.
      Considering that the recent phase rise in Ethereum has started at $ 217.0, it is difficult to break these levels unless a large and deep market moves.
      Therefore, it should be followed very closely in Bitcoin and the situation of the US major exchanges is also considered. It should be taken.
       In the retractions, the main support of $ 228.0 is above, and the $ 247 level can be considered for profit realizations.

Resistors: 238/244/247

Supports: 235/228/217

                                                                  ETHUSDT, 1-Day Chart