The price of Ethereum has fallen below $1,900, dropping from the $2,000 mark that was previously held by bulls. This has led to another sell-off and the bearish influence remains strong despite attempts at recovery.<\/p>\n
In the last 24 hours, Ethereum has risen by only 1.2%, but on the weekly chart, the altcoin has seen a significant drop of over 10%. The technical outlook for Ethereum is also in favor of the bears, as demand and accumulation for the altcoin have decreased. In order for Ethereum to make a recovery, it is crucial for it to breach the immediate resistance strength from buyers.<\/p>\n
Despite this, most altcoins, including Ethereum, have remained bullish on the higher time-frame structure. However, bulls must defend the following support line or supply zone for Ethereum to start its recovery.<\/p>\n
With Bitcoin struggling under the $30,000 price mark, many altcoins are also experiencing difficulty in breaking through their immediate price ceilings. On the one-day chart, the decline in the market capitalization of Ethereum indicates a decrease in buyers.<\/p>\n
At the time of writing, ETH was valued at $1,880, having fallen below its bearish block ranging from $1,900 to $2,000. This drop in price is likely due to a routine price pullback, as Ethereum had traded above the $2,025 price mark after approximately eight months. However, as selling pressure increased, the bears have taken control.<\/p>\n
The immediate overhead resistance for the altcoin is $1,910. A move above this level could potentially push ETH to touch $1,950, which may help to facilitate a price recovery. Conversely, the support levels for ETH are currently at $1,840 and $1,820.<\/p>\n
During the previous session, the amount of ETH traded was in the red, indicating an increase in selling pressure.<\/p>\n
As demand for ETH decreased, buyers also began to lose confidence in the asset. The Relative Strength Index showed that sellers outnumbered buyers on the one-day chart, as it was positioned just below the 50-mark.<\/p>\n
Additionally, ETH dropped below the 20-Simple Moving Average line, indicating that sellers were in control and driving the price momentum in the market. However, with a slight increase in demand, ETH has the potential to trade above the 20-SMA line once again.<\/p>\n
In line with other technical indicators, ETH began to exhibit sell signals on the one-day chart. The Moving Average Convergence Divergence, which measures price momentum and reversals, formed red histograms. This reading corresponds to sell signals for the altcoin.<\/p>\n
Additionally, the Bollinger Bands, which gauge price volatility, were relatively far apart, but they have started to slightly converge. It suggested that ETH may trade within a specific price range over the coming trading sessions.<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
The price of Ethereum has fallen below $1,900, dropping from the $2,000 mark that was previously held by bulls. This has led to another sell-off and the bearish influence remains strong despite attempts at recovery.<\/p>\n
In the last 24 hours, Ethereum has risen by only 1.2%, but on the weekly chart, the altcoin has seen a significant drop of over 10%. The technical outlook for Ethereum is also in favor of the bears, as demand and accumulation for the altcoin have decreased. In order for Ethereum to make a recovery, it is crucial for it to breach the immediate resistance strength from buyers.<\/p>\n
Despite this, most altcoins, including Ethereum, have remained bullish on the higher time-frame structure. However, bulls must defend the following support line or supply zone for Ethereum to start its recovery.<\/p>\n
With Bitcoin struggling under the $30,000 price mark, many altcoins are also experiencing difficulty in breaking through their immediate price ceilings. On the one-day chart, the decline in the market capitalization of Ethereum indicates a decrease in buyers.<\/p>\n
At the time of writing, ETH was valued at $1,880, having fallen below its bearish block ranging from $1,900 to $2,000. This drop in price is likely due to a routine price pullback, as Ethereum had traded above the $2,025 price mark after approximately eight months. However, as selling pressure increased, the bears have taken control.<\/p>\n
The immediate overhead resistance for the altcoin is $1,910. A move above this level could potentially push ETH to touch $1,950, which may help to facilitate a price recovery. Conversely, the support levels for ETH are currently at $1,840 and $1,820.<\/p>\n
During the previous session, the amount of ETH traded was in the red, indicating an increase in selling pressure.<\/p>\n
As demand for ETH decreased, buyers also began to lose confidence in the asset. The Relative Strength Index showed that sellers outnumbered buyers on the one-day chart, as it was positioned just below the 50-mark.<\/p>\n
Additionally, ETH dropped below the 20-Simple Moving Average line, indicating that sellers were in control and driving the price momentum in the market. However, with a slight increase in demand, ETH has the potential to trade above the 20-SMA line once again.<\/p>\n
In line with other technical indicators, ETH began to exhibit sell signals on the one-day chart. The Moving Average Convergence Divergence, which measures price momentum and reversals, formed red histograms. This reading corresponds to sell signals for the altcoin.<\/p>\n
Additionally, the Bollinger Bands, which gauge price volatility, were relatively far apart, but they have started to slightly converge. It suggested that ETH may trade within a specific price range over the coming trading sessions.<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-22426","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/22426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=22426"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/22426\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=22426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=22426"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=22426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}