Ethereum’s price has not yet shown any willingness to recover following the recent drop from the critical $2,000 resistance area. However, while the cryptocurrency is consolidating in a tight range, there are some signs indicating the probable price action in the short term.
Technical Analysis
By Edris
The Daily Chart
On the daily timeframe, the price has been holding around the $1,650 support level over the last few days after a decisive rejection from $1,750 earlier.
Given the current price behavior and the overall market structure, it seems more likely that the price will experience a deeper drop toward the $1,400 level than a rebound and rally toward the $2,000 zone. The 50-day and 200-day moving averages have also printed a bearish crossover, which is a negative trend signal that could result in another crash in the coming days.
Source: TradingView
The 4-Hour Chart
Looking at the 4-hour timeframe, things look even worse as the momentum is clearly in favor of the sellers. The pri

Czytaj więcej

We współpracy z: https://cryptopotato.com/eth-price-depressing-but-is-a-bounce-to-1-8k-in-play-ethereum-price-analysis/