Ethereum (ETH) is in a downward correction and continues its downward movement.
On May 27, the largest altcoin repeated its previous low as it fell to the low of $1,703. Bulls bought the dips as the altcoin corrected upwards. The rejection of the 21-day line SMA has led to Ether being under selling pressure again.
On the upside, further upward movement of the cryptocurrency is limited by the 21-day line SMA. Selling pressure will continue on the downside if the bulls fail to break above the 21-day moving average line. ETH will continue to decline if it falls below the previous low at $1,763. A break below the previous low will push Ethereum to the low of $1,370.
Analiza indicatorului Ethereum
The cryptocurrency is at level 37 of the Relative Strength Index for period 14. Ether is in the downtrend zone, falling for the second time to the previous low at $1,763. Ether price bars are below the moving averages, indicating a further decline in the Ether price. The daily stochastic is below the 40% area. The market is in a bearish momentum. The moving averages are sloping downwards, indicating a downtrend.
Tehnice de indicatori:
Niveluri majore de rezistență - 3,500 USD și 4,000 USD
Niveluri majore de asistență - 2,500 USD și 2,000 USD
Care este următoarea direcție pentru Ethereum?
All signs point to Ether resuming selling pressure as it is rejected at the moving averages. Meanwhile, on May 12 downtrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement suggests that ETH will fall to the Fibonacci extension level of 1.272 or $1,370.14. Based on the price action, the Fibonacci tool will hold if the previous low is broken.
Declinare de responsabilitate. Această analiză și prognoză sunt opiniile personale ale autorului și nu reprezintă o recomandare pentru cumpărarea sau vânzarea de criptomonede și nu ar trebui privite ca o aprobare de către CoinIdol. Cititorii ar trebui să facă cercetările înainte de a investi fonduri.
Source: https://coinidol.com/ethereum-1763-low/