ETHEREUM (ETH), the second largest encrypted currency in the world according to the maximum market, is at a decisive level, indicating a position or break in Altcoin. This prediction depends on the current basic procedure for ETH in the time frame for a period of four hours.
Technical analysis of Ethereum (ETH) and the next level
According to expert technical analysis, ETH appears to be a triangular rising pattern in the time frame for four hours, but it is currently facing resistance from the descending trend line and appears to be falling towards the level of support.
Based on the last procedure of the price, if ETH fails to keep $ 2,680 and closes a four -hour candle less than $ 2,670, there is a strong possibility that can decrease by 4.5 % to reach a level of $ 2,560 in the coming days .
Besides the homogeneous expectations, ETH is currently trading less than 200 days moving average (EMA) on the daily time frame, indicating that the original in the direction of landing and has the ability to continue this declining trend more.
The risk of ethereal liquidation
Through a landfill, the $ 74 million long centers are about to liquidate the liquidation. Data He explains that long situations of $ 72 million have been opened when merchants became more than $ 2657. This huge amount of ETH will be filtered if the price decreases below this excessive level.
On the contrary, traders who hold long positions are excessive in obtaining an interest at the level of $ 2,730, with long centers worth $ 275 million at risk of liquidation if the price decreases further.
Current price momentum
Currently, ETH is trading near the level of $ 2685 and has witnessed a modest decrease in prices by 0.55 % over the past 24 hours. However, during the same period, the trading volume decreased by 9 %, indicating a decrease in participation from merchants and investors.
