Ethereum is integrating with the development of the direction of accumulation – a new rising phase?
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ETHEREUM is under pressure after failing to break the highest level of $ 1874 on May 1, which is now a severe resistance. When the broader encryption market begins to heat, Ethereum remains stuck in a narrow range, lacking momentum to confirm the penetration. Currently trading over $ 1,800, ETH is at a critical level where the bulls must intervene to defend the structure and pay the price up.
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Despite many attempts, Ethereum was unable to determine a clear direction, and the market participants are increasing cautious. The original still has decreased more than 55 % of its highest levels in December, which reflects a long period of weakness for other major encrypted currencies. Without a strong payment through resistance, Ethereum risks more out of it.
Michael Van De Poppe in Top Crypto recently participated in a technical analysis indicating that Ethereum is still in accumulation. According to Van de Bobby, ETH shows signs of strength and accumulation against BTC in the background, but it needs to be confirmed by a crucial outbreak of higher levels. Until then, Ethereum remains associated with fluctuations. With the transformation of feelings in the market and the main movements looming on the horizon, the coming days will be crucial for short -term ETH expectations.
ETHEREUM accumulation: ETH/BTC hints in an imminent step
ETHEREUM continues the conflict without a brand of $ 2000, and has failed to restore the main resistance levels despite increasing the wider market activity. Although ETH/USD is still without direction and is still trading more than 55 % lower than its highest level in December, a closer look at the ETH/BTC chart reveals something more constructed under the surface.
Van De Poppe recently shared an analysis that highlights a clear accumulation structure formed in the ETH/BTC pair. After months of the consistent negative side, the graph shows that the ETHEREUM explodes out of the fall of the fall and uniformity in a short narrow range with a little critical resistance at 0.0195 BTC. According to Van de Bobby, this is a classic accumulation pattern, indicating that Ethereum may prepare for a major collapse for Bitcoin.
The graph also highlights the main demand area around 0.0184 BTC – the ETH area that has been placed over and over again. As long as this level continues, Van De Poppe believes that Ethereum can continue to grind higher and finally come out over the resistance. A successful penetration can be the beginning of Ethereum that excels on Bitcoin, a trend often seen during the Altcoin expansion phase in the bull market.
However, the risks remain. The broader market is still greatly affected by the total economic certainty, especially the tensions surrounding the United States of China. Currently, the upright Ethereum status depends on retaining the current support and wiping the resistance of 0.0195 BTC. If it succeeds, this accumulation may become a base for a strong gathering.
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The ETH price is integrated into a narrow range
ETHEREUM is currently trading at $ 1,795.79 after a slight rejection of a rise of $ 1074 on May 1. The daily graph shows that ETH is integrating in a narrow range after its recovery from its lowest level in April near $ 1500. However, despite this installation, the ETH is still much lower than both the 200-day moving average (SMA) at $ 2,709.54 and the average SIA for 200 days (EMA) at $ 2,437.55-which leads to the broader trend remains down.
While the bulls were able to prevent more from the downside, Ethereum has not yet proceeded from the long -term direction. The failure continues to restore $ 2000 as support in reducing the bullish momentum, and the size remained modest during the recent price procedures, indicating the lack of condemnation of buyers and sellers.
The structure is currently preferred to accumulate, but ETH must decisively remove the resistance area of 1875 to 2000 dollars to convert morale and verify the validity of the opposite direction. If you fail to do so, the risk of regeneration for a decrease in the support zone with an area of 1650 to $ 1700.
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Overall, ethereum is in a pivotal stage. The more it is to merge without the main moving averages, the higher the probability of the market’s caution. The collapse above $ 2000 can push renewable market trends and signal signal.
Distinctive image from Dall-E, the tradingView graph
