ETHEREUM continues to face strong resistance near the moving average for 200 decisive days at $ 2.7 thousand, while meeting the last price behavior to the opposite of the potential decline.
The lack of constant purchase momentum indicates that a long standard of unification, may extend down to the support area of $ 2.2,000, is likely to be likely to be in the middle of the period.
Technical analysis
Daily chart
ETH continues in the struggle without the 200 -day moving average, which is currently being placed on the mark of $ 2.7 thousand. This level has been a ceiling in recent weeks, indicating a fixed area of pressure and hesitation among buyers. Failure to restore this main threshold leads to signs of weakness, as the price begins to form a distribution scope, which allows a possible corrective step.
Due to the lack of a strong upward momentum, the gradual decrease in support of $ 2.2,000 probably appears to be in the upcoming sessions. This area may serve as a pocket for demand, providing the market with an opportunity to reset before trying another at the beyond a barrier of $ 2.7,000. However, if sellers get more control, ETHEREUM can even re -test MA 100 days near $ 2,000 as the next defense line.
The graph for 4 hours
In the low time frame, ETHEREUM is traded within the formation of an increased wedge, usually a declining reflection pattern, indicating the strength of the bare buyer and an increased risk of a declining collapse. This structure is in line with the visible rhythmic difference on the RSI index, which enhances the opinion that the distribution is underway near the current resistance.
The collapse is likely to open under the lower boundaries of the sorry, currently about 2.4 thousand dollars, the door to a decrease towards a region of $ 2.2 thousand. On the contrary, if Ethereum is unexpectedly collapsing over the upper limits, the short pressure may be revealed, which is likely to push the price towards the higher resistance levels in a sharp recovery step.
Series analysis
The price of ETHEREUM continues to fluctuate directly under a major resistance area, making merchants not sure of the important directional step of the original. One of the valuable scale in this context is the average arrangement volume of implemented trades, which reveals the activity scale from various market participants.
An increase in this scale often indicates an increase in the participation of Pisces investors. Historically, the sizes of the largest demands coincided with major local peaks, as whales tend to engage in achieving strategic profits or distribution at high price levels.
Nowadays, this scale has increased significantly, indicating an increase in the activity of the whale within the scope of the resistance of $ 2.5 thousand to $ 2.8 thousand. This pattern indicates that big investors may empty parking or hedge, which expects a potential transformation of momentum.
As a result, with the exception of sudden upward collapse, the possibilities are currently preferring continuous unification or even a deeper decline in the middle of the period, and perhaps towards low support levels. Investors must remain cautious and monitor the additional signals from both the price structure and institutional behavior.
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