Ethereum bulls felt disappointed with the failure to try to recover when resisting $ 2,160
The cause of confidence
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Ethereum’s attempt to restore the bullish momentum achieved a barrier, as the price failed to penetrate the decisive resistance level of $ 2,160. After showing signs of recovery, ETH faced a strong sale pressure at this main level, and to prevent sustainable Go out The disappointing buds who were hoping for more upward trend.
Its inability to overcome this resistance indicates that the bears are still in control, which maintains the price of ETHEREUM under pressure. With momentum fading and market Feelings are careful, and merchants are now seen closely the main support areas to determine the next step.
Blind pressure: What is the following for Ethereum?
Ethereum faces increased pressure of the downside as the latest recovery attempt at the resistance level has been rejected $ 2,160. The failed penetration has strengthened the landing FeelingsWith the main technical indicators that indicate weakness. If buyers fail to intervene, ETH may be at risk of deeper declines in the short term.
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One of the main warning signs is twice the size during the recovery attempt. Strong collapse usually requires great interest in purchase, but the Ethereum gathering lacks momentum, making it easier for sellers to restore control. This lack of condemnation from Bulls indicates that the upscale step was not sustainable, allowing the bears to pay prices to a decrease.
In addition, the RSI (RSI) Index contains breakTransfer to the bottom of the main thresholds indicating the weakening of the upward strength. The current retreating RSI explains that the purchase pressure fades, making it difficult for Ethereum to build an upward momentum. If RSI continues to go below, it may also confirm a long drop stage.
The average medium rapprochement (MACD) has also turned, with a collapse below the signal line and a medium gap between MACD and its moving medium. This intersection indicates that the declining momentum is accelerating, which reduces the chances of immediate recovery. When you are associated with other landmarks, the MACD collapsed supports the issue to continue Negative.
In the future, ETH may restore the main support areas. However, it can provide a strong bounce of low levels Bulls Another opportunity to restore the lost land. Currently, the plans indicate that Ethereum is still vulnerable to more declines.
Support levels for watching: Can bulls prevent more decrease?
With attention now turns into the key Support levelsThe first major support to see about 1523 dollars, a level that was previously working as a short -term request area. If Ethereum holds over this field, Bulls may provide a basis for another recovery attempt. However, the collapse below this level can indicate an increased domination of landing, which increases the risk of deep losses.
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Less than $ 1,523, the following main support lies at $ 902, as it is in line with the reactions in the previous prices and works as a psychological level of traders. Failure to keep here may lead to accelerating the pressure pressure, pushing the eth towards the other support below.
Distinctive image from Istock, Chart from TradingView.com
