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The Ethereum price maintains a sideways trend below the support trendline of a megaphone pattern. Teasing a potential reversal, the altcoin price prepares an upcycle within the price pattern forming in the daily chart. So, with crypto buyers ready for a hike, should you consider buying ETH this August?
Citește și: Raliul prețurilor Ethereum așteaptă această confirmare a modelului optimist
Graficul zilnic al prețului Ethereum
- The short-bodied candles in the daily chart reflect uncertainty among market participants
- A potential reversal from the support trendline sets the ETH price for a 10% upswing.
- Volumul de tranzacționare pe parcursul zilei în Ethereum este de 29.5 miliarde USD, ceea ce indică o pierdere de 25%.
Sursa-Tradingview
Struggling to reclaim the uptrend momentum, ETH prices tend sideways close to a support trend line. Despite a bull pushing the lower trend, the buyers’ failure to rise higher indicates weakness in bullish momentum. Maintaining a higher high formation, the ETH price action hints at a modified megaphone pattern.
Moreover, in the larger picture, ETH price action maintains an uptrend in a rising channel. Therefore, the break down of the megaphone pattern can lead to another price fall to the bottom of the rising channel.
The lower support trendline carrying a bullish trend offers an opportunity to accumulate ETH at a discounted price.
What if ETH Price Breaks Support Trendline?
A high momentum bullish reversal from the support trendline could lead to a sharp recovery in Ethereum price, potentially crossing the $2000 barrier. However, if ETH continues to fluctuate under the $1900 mark, a bearish breakdown can drop the ETH price low to $1800.
- Divergența medie de convergență mobilă: The MACD indicator displays a Bullish crossover in action projecting a potential Bullish bounce in ETH price.
- Raportul forței relative: The RSI indicator shows a sideways trend close to the halfway line reflecting a brawl between bulls and bears.
Conținutul prezentat poate include opinia personală a autorului și este supus condițiilor pieței. Faceți cercetările de piață înainte de a investi în criptomonede. Autorul sau publicația nu își asumă nicio responsabilitate pentru pierderea dvs. financiară personală.
Source: https://coingape.com/markets/will-ethereum-price-lose-1800-support-amidst-uncertain-markets/