Ethereum’s price is currently facing crucial resistance, and the current focus is to surpass it. A successful breakout from this level could potentially result in bullish momentum in the near term.
Technical Analysis
By Shayan
The Daily Chart
Ethereum’s price has been forming a descending flag price pattern over the last few months. After recently touching the lower trendline, it has initiated a small rally with extremely low momentum.
The price is now consolidating around the middle threshold, which closely aligns near the two intense resistance levels, the 100-day and 50-day moving average lines (standing roughly at $1,350).
The positive momentum will be fully confirmed if bears push the price above the aforementioned barriers.
On the other hand, if the middle boundary rejects the price, market participants should be prepared for another plummet toward the lower trendline, around $1K, which has served as significant support over the past few months.
Source: TradingView
The 4-Hour
We współpracy z: https://cryptopotato.com/eth-approaches-critical-resistance-but-bearish-on-chain-signal-flashes-ethereum-price-analysis/
