Ethereum’s price has reached the crucial level of the 100-day moving average at $1760. The PA at this significant support region should be closely monitored, as a breakdown will potentially lead to a massive cascade.
Technical Analysis
By Shayan
The Daily Chart
After a short-term consolidation phase, the price experienced a decline and reached the 100-day moving average of $1.7K. Although Ethereum’s recent PA has not shown a clear direction, it initiated a slight uptrend after touching the 100-day moving average, leaving the market uncertain.
However, the price currently faces two crucial levels, the 100-day moving average at $1748 and the $1.6K support region.
Therefore, it has the potential to start a rally aiming for the $2.1K resistance area, but only if the moving average successfully holds Ethereum from further decline.
Source: TradingView
The 4-Hour Chart
On the 4-hour timeframe, after a short-term consolidation correction stage around the channel’s middle boundary, the pr
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