With 2000 dollars now at the risk of disappearing in the next few hours, Ethereum is about to lose a large price level. The original has decreased steadily, which indicates a greater pattern of network activity and investor interest. Ethereum’s difficulty in restoring momentum is clear in the recent prices of prices, and his inability to maintain a large recovery raises the possibility of more Decrease.
Due to its rapid decrease, the price of Ethereum determined its highest levels and a decrease in the regularly low. The averages of sloping movement provides support for the clearly low direction of the scheme, which confirms the domain control over the original. Poor interest in purchase and continuous sale pressure through the moving averages for 50 days and 200 days, which still indicate the bottom.
Everything is exacerbated by the low size of the Ethereum network. Participants in the field of retail and institutional institutions, according to data on the series, leaves the number of transactions and active addresses still decreases. This situation increases due to the slowdown in the Defi activity and the lack of investment in projects based on ETAREUM.
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There is no little reason for optimism regarding excitement in the near future based on technical expectations. The loss of $ 2000, which serves as an important psychological and technical support, can allow more severe correction. The following main support areas for ETH are $ 1,800 and up to $ 1700, which may witness a decrease in the event of increased pressure pressure.
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The fact that RSI levels still in the sale area may indicate a possible recovery in the short term. However, in order to change the momentum, any effort to recover will have to overcome the immediate resistance at $ 2200. Until then, ETHEREUM can continue to decline because the market does not display many wrapping marks.
