Ethereum Price Analysis: With the increasing selling pressure in the crypto market, the Ethereum price plunged back to the long-coming ascending trendline. In the past two months, the coin price has bounced thrice from the support trendline indicating the buyers are actively accumulating at dips. Will buyers prolong the recovery further or sellers retake trend control?
Key Points:
Multiple technical levels accumulated near the $1827 reflect a highly concentrated support.
Bullish reversal signs at the $1827 level project a potential upswing to $2000
The intraday trading volume in Ether is $7.8 Billion, indicating a 10% gain.
Source- Tradingview
The Ethereum price falling from the past four days consecutively shows a drop from a $2000 high to an $1827 low, registering a 9% loss. This downfall brought the coin price to a high concentrated support zone at $1827.
The aforementioned $1827 horizontal support level is also accompanied by an ascending trendline and a 23.6% Fibonacci retrace
We współpracy z: https://coingape.com/markets/ethereum-price-analysis-reversal-from-monthly-support-prepares-eth-price-for-8-jump-this-week/
