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The Ethereum price breakdown from monthly support of $1827 indicates this altcoin is poised for a longer correction. However, the falling price witnessed significant demand pressure near the 100-day EMA at $1766, indicating the buyers have not thrown the towel yet. Thus, in the coming week, the coin holder may witness a brawl between the buyers and sellers to claim trend control.
Ključne točke:
- A downsloping resistance carries the ongoing correction phase in the Ethereum price
- A breakdown below $1827 has set a potential fall of 12% to reach the $1600 mark.
- Unutardnevni obim trgovanja eterom je 4.39 milijardi dolara, što ukazuje na gubitak od 49%.
Izvor- Tradingview
After giving a decisive breakout from the $1827 support of May 11th, the sellers failed to offer a significant follow-up indicating a weakness in bearish momentum. Today, the Ethereum price trades at $1803 with an intraday gain of 0.42% and continues to hover between the $1827 level and the 100-day EMA slope.
If the buying pressure persists, the Ethereum price may retest the breached support as potential resistance. If the sellers sustain below the $1827 level, the correction phase will prolong 11.5% and retest the combined support of $1600 and a long coming support trendline.
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The Ethereum price has rebounded from this support four times indicating the buyers are accumulating this asset at pullbacks which is a sign of an established uptrend.
Conversely, if the ETH price surged above the $1827 barrier, the bearish momentum would weaken, but the traders would receive sufficient confirmation for recovery once the price breached the overhead trendline.
Technical Indicator
Indeks relativne čvrstoće: A clear bearish divergence between the price and RSI slope peak of mid-January and mid-April reflecting underlying weakness in bullish momentum. Thus, the Ethereum price is likely to witness a prolonged correction to 1600.
Eksponencijalni pokretni prosjek: A potential bearish crossover between the 20-and-50 EMAs will encourage selling pressure in the market.
Unutardnevni nivoi cijene Ethereum kovanica-
- Spot stopa: 1767 dolara
- Trend: Medvjed
- Hlapljivost: Srednja
- Nivo otpora - $1830 i $1920
- Nivo podrške - $1700 i $1600
Predstavljeni sadržaj može sadržavati lično mišljenje autora i podložan je tržišnim uslovima. Istražite tržište prije nego što investirate u kriptovalute. Autor ili publikacija ne snosi nikakvu odgovornost za vaš lični finansijski gubitak.
Source: https://coingape.com/markets/buyers-losing-support-hints-ethereum-price-at-12-downside-risk-for-coming-week/