ETHEREUM recently faced a slight rejection of the 200 -day mobile average, which is $ 2.6,000, as the presence of the sellers offered. However, more monotheism and deeper correction may be on the way to the encrypted currency.
ETH price analysis: Technologies
By Shayan Markets
Daily chart
Ethereum again faced rejection on a moving average for approximately 200 days near 2.6 thousand dollars, reflecting the continuous sale pressure and the lack of upward momentum. This prolonged monotheism without exhausting the buyer MA signals for 200 days and increases the possibility of deeper correction.
The price remains trapped between a master’s degree 100 days in 2 thousand dollars and 200 MA in $ 2.6 thousand, and it is an average range. Looking at the current weakness, the decrease towards the lower border of the range appears to be reasonable. However, if Bulls managed to recover MA for 200 days, the fast Isra Rapid can pay the price towards a 3,000 -dollar resistance area.
The graph for 4 hours
In the low time frame, ETHEREUM continues to fluctuate within an upward wedge style, usually a declining formation. The last rejection of the upper border confirms about 2.6 thousand dollars, the seller’s dominance, as the price is now hovering near the lower edge of the ludic.
The collapse of this level is likely to start a decline in the support zone of $ 2.2 thousand. Until a decisive outbreak occurs, the price movement is expected to remain volatile inside the wedge.
ETH price: feelings analysis
By Shayan Markets
Ethereum remains a little lower than the main resistance level, which makes investors not sure that an imminent bullish outbreak can occur.
The critical scale that must be seen is the percentage of the sale of ETH Taker, which tracks the dominance of the aggressive market orders, which were implemented at the current market price, and reveal whether buyers or sellers are leading momentum. These requests usually indicate urge and condemnation among merchants.
Recently, the 30 -day moving average for this percentage was heading down, indicating an increase in aggressive sale. This shift indicates an increase in the declining pressure, as the profit and distribution are likely to increase as Etherum struggles to overcome the resistance.
If this sale continues, this may lead to a deeper correction, with the appearance of $ 2200 as a major support. However, if the last sale is driven in the first place by the short -term traders or the so -called “weak hands”, it may represent a stage of health unification, which may put the way to renew the upward collapse.
In short, the next main step for Ethereum will be largely dependent on whether the current sale pressure is escalating or fading in the mid -term demand.
Post -ETHEREUM rate analysis: Is 3 thousand dollars on the horizon of ETH this month? He first appeared on Cryptopotato.
