In terms of the Ethereum Price Forecast, traders continue to be undecided

During the previous twenty-four hours, Ethereum futures liquidations totaled $72.46 million, according to statistics provided by Coinglass. When both long and short positions are liquidated, the total amount of liquidated positions is $60.95 million and $11.51 million, respectively.

ETH is now stabilizing between the area of $1,700 to $1,850 as bulls have been unable in maintaining their hold on the $1,800 critical milestone.

At the other end of the spectrum, Ethereum can bounce off the support of a channel that is modestly rising. If the price falls below this support, the next important support zone will be the $1,688 level, which is also a crucial falling trendline.

In order to initiate the subsequent bullish movement, Ethereum (ETH) must first break above and then maintain the upper limit of the channel that is slightly rising that serves as support.

Both the 4-hour Relative Strength Index (RSI) and the Stochastic Oscillator (Stoch) show a predominant negative momentum in the near term, with the Stoch indicator getting closer and closer to getting into the oversold area.

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