After a period of consolidation and corrective movements, Ethereum’s price has encountered increased selling activity, leading to a slight decline toward the 100-day moving average.
The main question now revolves around whether Ethereum sellers will manage to break below this crucial moving average.
Ethereum Price Analysis: Technicals
By Shayan
The Daily Chart
A thorough analysis of the daily chart reveals that following an extended phase of corrective retracements, with the price testing the critical resistance region of $3.2K, the market experienced heightened selling pressure, resulting in a slight downturn.
Consequently, the Ethereum price is now testing a crucial support level marked by the 100-day moving average at $3086. This range holds significance as it typically attracts considerable demand, potentially limiting further downward pressure from sellers.
However, given the current market sentiment and recent price action, Ethereum appears to lack sufficient momentum and buyin
We współpracy z: https://cryptopotato.com/is-eth-about-to-plunge-below-3k-or-will-the-bulls-step-in-ethereum-price-analysis/
