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Crypto Trends

The price of ETHEREUM (ETH) is under pressure: Can the bulls defend 1500 dollars, or is the deeper decline imaming?

Ethereum has been subjected to significant declining pressure over the past few months, as prices have decreased from about $ 4100 to the current level of $ 1,607, and this represents a decrease of about 62 % in the price. Altcoin has increased by 9.8 % over the past 24 hours. This gathering came After President Trump announced a 90 -day stoppage on mutual definitions.

Even after this gathering, ETH holds inside the descending channel. Will you abandon the immediate resistance of $ 1809 or collapse to $ 1100 about to happen?

Ethereum prices analysis

ETH is currently trying to create a support level near $ 1550 after selling it in late March and in the first week of April. The appearance of a relatively large green candle, which implicitly means the purchase interest at the current levels on April 9, does not mention the size, indicating a great immediate reflection.

All the main Emas is stacked by more than the current price, as 50 EMA operates as a resistance near $ 2000. The distance given between the current price and the EMAS indicates how strong the continuous declining direction, with no bullish cross vision.

Ethereum price scheme

RSI is about 37.17, near the sale area, but not yet in extremist lands. This position indicates the possibility of artistic reflux. Relative power indicators have been in a declining direction since December and failed to show any positive differences.

ETH is currently stuck in a versatile channel. The price recently approached the lower direction line, indicating the support test. This usually continues until a decisive outbreak occurs.

Some important resistance levels are $ 1785, $ 2000 (psychological level), and $ 2,385. The immediate support on the downside lies at $ 1,539 with the main psyche at $ 1500. The last bounce occurred from the lower border of the channel, indicating that this level is defended by buyers strongly.

ETH price goals

If ETH decreases to the bottom of the bottom boundaries of the channel, the immediate goal will be $ 1,400, which is 13.5 % decrease from its current levels.

On the upper side, a decisive break on the upper border of the ETA channel may witness an EMA for 50 days near 2000 dollars, which requires 23.7 %.

To get the real -direction reflection, ETHEREUM will need to get out of the corresponding channel in a large size, restore $ 2,000, and see the regional conference indicators establish itself above 50. Until then, the declining pressure will continue to control the second largest encrypted currency.

Ethereum ETF flows remain weak

according to Sosovalue Data, on April 9, the total net flow from Ethereum Spot Etfs was $ 11.18 million, and none of the nine investment funds did not have a clear flow. Ethereum Spot Etf with the largest net flow yesterday was Federation Etf Feth, with a one -day net flow of $ 5.73 million. Currently, the total net flow of FTH in history was $ 1.40 billion.

It recorded 94.1 million dollars in external flows over the past two weeks for $ 13 million in flows.

Whale

Etherum Og 10,702 ETH ($ 16.86) threw at $ 1,576 again after two years of stillness, bought when the price was only $ 8. Interestingly, he did not sell when ETH was above 4000 dollars but always chose to sell during the main declines.

Ethereum is witnessing the decrease in open interest and negative financing rates

The lack of enthusiasm in the derivative market is another factor in lower ETH prices. The total number of future contracts and options contracts remains low, indicating a decrease in trading sharing.

Currently, at 16.7 billion dollars, Open attention It is 48 % less than a peak of 32.3 billion dollars on January 24. OI decrease indicates a recession in confidence and benefit from investors.

Also read: Will Bulls strengthen the price of ETHEREUM to $ 2000 inside the parallel channel?

Sahil MahadikSahil Mahadik

Written by Sahil Mahedik

As a full -time trading with more than three years of practical experience in financial markets, exceptional efficiency in technical analysis, which is the cornerstone of the daily monitors of price fluctuations in the leading assets and indicators. My journey started to circulate with a deep charm of financial tools, and this curiosity is naturally expanded in the world of sophisticated cryptocurrencies. I am currently contributing to Cryptonewsz, and I have also written for Coingaape, Coin Republic and Therkarketperodical. I am driven by the market and I want to explore new opportunities. I analyze the emerging trends and strategies to obtain the maximum returns in the traditional coding markets.

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