The cryptocurrency market is still in a state of uncertainty and fear. Ethereum is no exception, and any upward attempt is faced with immediate sell pressure. Will the bulls be able to regain control of the market?
Technical Analysis
By Grizzly
The Daily Chart
On the daily time frame, ETH is moving downward inside a falling wedge (in yellow). It is important to note that this wedge bottom is aligned with the horizontal support level of $1700 (in green), which can be a potential trend reversal point.
As a result, if the bulls can defend the green zone, the price will be more likely to move towards the static resistance at $2450. On the other hand, if the bears continue to suppress the market and break below the green support zone, the price is more likely to enter an extended regression phase.
Key Support Levels: $1700 & $1500
Key Resistance Levels: $2200 & $2450
Source: TradingView
Moving Averages:
MA20: $2376
MA50: $2818
MA100: $2835
MA200: $3301
The ETH/BTC Chart
Against Bitc
We współpracy z: https://cryptopotato.com/eth-price-analysis-warning-signs-for-ethereum-as-bears-push-below-2000/
