Weekly support for the price of ETH – $1,270-$1,200. Weekly resistance for the price of ETH – $1,400.
ETH currently trades at $1,290, holding its price from falling below the support it has formed at $1,270-$1,200 a drop below this zone could mean a retest of $1000-$900 region again. The price of ETH was rejected at $2,013, and the price has since struggled to regain its bullish strength as many traders are anticipating a drop to the region of $700-$500 as these zones have been identified as high-demand areas for the price of ETH. After the price of ETH rallied from a weekly low of $900, the price went to a high of $2,013, as many expected the price to form a base or support before continuation ahead of the scheduled merge. Despite showing some great price movement in recent weeks, the price of ETH has continued to maintain a downtrend as it faces a crucial test to hold above $1,200 or defer the odds and go lower. Life after post “Ethereum Merge” has not been easy for the Ethereum price, with many traders and investors expecting a rally to a region of $5,000. (Data from Binance) Related Reading: Glassnode On Bitcoin Mining: Difficulty Reaches ATH, Profitability Decreases Ethereum (ETH) Price Analysis On The Weekly Chart. Ethereum (ETH) and other crypto assets enjoyed a relief bounce in previous weeks that saw the crypto market cap looking good for cryptocurrencies across the industry, with many producing double-digit gains. The price of Ethereum (ETH) continues to struggle to discover its bullish trend before the “Ethereum Merge” as the price fails to break the key resistance of $1,400 against tether (USDT). The price of ETH needs to break and hold above the key resistance of $1,400 to initiate recovery signs for the price. ETH trades below 50 and 200-day Exponential Moving Average as price struggles to regain bullish signs as many traders and investors wish for $500.
Ethereum Gains So Much Demand To Buy At $500, Will This Be Possible?ĮTH prices continue to trend downwards as prices remain bearish, with price trading on critical support.
0 kommentar(er)
