American e-commerce company, Etsy, began to suffer a big loss in share price after an all-time high was reached at $307.57 on December 26, 2021. $ETSY has lost about $200 since its all-time high last year December. The bears have been more active since the beginning of the year 2022. Etsy opened the year 2022 at $222 but has since lost about $100, leaving it at $124.28 as at April 1, 2022.
In the past 5 months, there have been several indications of the price being oversold on the Etsy 4hr Chart . Etsy’s previous support level on the weekly chart was maintained at $155.15 since May 2021. The recent downward slide this year has made Etsy reach a new support level at $108.95 as of February 24, 2022. The next bull run for Etsy might make the price reach $278, which is over $105 gain from its current price. In a situation where the bulls continue to push prices higher than $278, a new all-time might be reached. As price consolidates, a breakout to the upside above $164, could be the clue for the next bull run.
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