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Ethereum Price Analysis: Amid the increasing indecisiveness in the crypto market, the Ethereum price has been in a sideways trend between $1827 and $1790. The coin prices show attempts to breach the aforementioned two levels indicating a narrow range formation in the daily chart. However, under the influence of a wedge pattern, the Ethereum price maintains its short-term trend on the downside.
Ključne točke:
- The ongoing correction in Ethereum price can be traced by a falling wedge pattern
- A potential breakdown above $1790 will set the ETH price on a 5% drop
- Unutardnevni obim trgovanja eterom je 5.5 milijardi dolara, što ukazuje na gubitak od 7.4%.
Izvor- Tradingview
By the press time, the Ethereum price traded at $1793, with an intraday loss of $1.7%. With today’s drop, the coin price challenges the $1790 range support indicating another breakdown attempt from sellers to maintain trend control.
A daily candle closing below $1790 will increase the underlying selling pressure and may plunge the price 5% down to hit the lower trendline of the falling wedge pattern. In theory, this pattern is known as a bullish continuation pattern which recuperates the bullish momentum once the prices breach their resistance trendline.
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Thus, a potential retest to the lower trendline is likely to trigger a bullish reversal and initiate a new recovery cycle within the pattern. However, the ongoing correction in the Ethereum price will prolong until the wedge pattern is intact.
Therefore, for the Ethereum price to ride a sustained rally the prices need to break above the overhead trendline.
Technical Indicator
Divergencija konvergencije pokretnog prosjeka: The falling MACD(blue) and signal(orange) line project a sustained downtrend in the Ethereum price
Eksponencijalni pokretni prosjek: A potential bearish crossover between the 20-and-50-day EMAs increase the selling pressure in the market
Unutardnevni nivoi cijene Ethereum kovanica-
- Spot stopa: 1796 dolara
- Trend: Medvjed
- Hlapljivost: Srednja
- Nivo otpora - $1830 i $1940
- Nivo podrške - $1790 i $1700
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/ethereum-price-analysis-hints-5-drop-before-buyers-trigger-recovery-cycle/