The price of Ethereum was a significant decrease and has not yet been reflected. If things remain the same, prices can be expected.
Technical analysis
Written by Idris Derkhshi
Daily chart
On the daily chart, the price has been less than its highest level and its lowest level since its rejection of the resistance level of $ 4,000 in December.
Currently, ETH is traded without the moving average for 200 days, located around the brand of $ 3,000, and tries to back down from $ 2700. If the market is able to do this, the upper reflection will become possible. In the event of failure, the decrease towards the support zone of $ 2,350 will be imminent.
The graph for 4 hours
Looking at the graph for 4 hours, the price has been unified in the past two weeks. While the market tests the level of $ 2700 at the present time, the relative strength index is about to decrease to less than 50 %.
This reference will indicate a decreased transformation of momentum and may lead to another decrease in the $ 2000 region in the coming weeks.
Feelings Analysis
Written by Idris Derkhshi
Funding rates
The futures market market has been very influential in making ETHEREUM prices over the past few years. One of the most important indicators of her feelings is the scale of financing rates, which shows whether buyers or sellers are making their requests more.
As the graph also suggests, the financing rates have been constantly decreased amid the decrease in the last price. This indicates that the futures market is no longer feverish, and with adequate immediate demand, the market is likely to recover.
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