- Ethereum is consolidated around the level of $ 1.7,000.
- The daily volume of ETH has decreased by more than 21%.
The price movement of cryptographic assets is undecided, with a neutral feeling on the market. The main active ingredients fluctuate between gains and losses, while the largest Altcoin, Ethereum recovery attempts continue to pressure themselves by the Bears, sliding by 2.21% in the last 24 hours.
ETH could continue to negotiate in the negative negotiation zone if it does not succeed. A break above the $ 2,000 threshold is imperative. Altcoin opened the day trade at a summit of $ 1,838. Finally, the downward wave sparked the price to dive around $ 1,782.
Ethereum was $ 1,772 at the time of writing this document, with a market capitalization of $ 213 billion. The daily negotiation volume decreased by more than 21.21% to $ 13.4 billion. In addition, the market experienced a liquidation of $ 46.15 million in ETH, depending on Coiinglass data.
Can Ethereum turn the tide?
The ETH / USDT trading pair, with the downward pressure in force, could fall to the crucial support range of $ 1,790. Assuming that the emergence of a death cross could trigger the price of Altcoin to trace towards the level of $ 1,736 or even lower.
If the Bulls were on order, the Altcoin could go to the initial resistance to the beach of $ 1,828. A continuous increase price could lead Ethereum to its resistance later at $ 1,877. Handy pressure can launch a sustained increase trend.
The line of divergence of Mobile Average Convergence (MacD) has crossed below the signal line, involving a lower crossroads with the potential of the additional decline if it remains below. In addition, the Chaikin monetary flow indicator (CMF) is parked at 0.15, referring to the accumulation of money and a moderate purchase pressure.
The daily index of the relative force (RSI) of ETH at 45.77 indicates a neutral impulse – neither onboux nor survent, in a consolidation phase. In addition, the reading of Bull Bear Power (BBP) of -19.15 suggests a strong downward pressure, lowering the price, unless there is an inversion signal.
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Can a crossroads: can bulls regain control?
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