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Bullish
Ethereum Prices Below $2,700
Ethereum falls under the increasing adverse effect in the crypto market as Bitcoin struggles to keep above the $96,000 barrier. Currently down around $2,700, the Ethereum price shows an intraday decline of 2.28%.
This produced a botched effort at $2,784 to surpass the 38.20% Fibonacci threshold. Since early February, this main obstacle has kept Ethereum prices below it.
The bounce-back from the local support trendline is not crossing over the 38.20% Fibonacci level just yet. Now trading at a market price of $2,681, the Ethereum cryptocurrency is subject to intraday decline.
The bearish candle's lower price rejection shows optimistic support at lesser levels. This raises Ethereum's chances of a comeback's possibilities to surpass the overhead ceiling.
Should a positive breakout, the uptrend is probably going to hit the 200-day EMA line close to the $3,000 level.
Supporting the upswing, the daily RSI line is reversing from the level of oversold boundary. Still, the falling trend in the dynamic average lines is rather dangerous.
Following the possibilities of a 100-day and 200-day EMA crossing, the recent death cross between the 50-day and 200-day EMA lines warns of a possible collapse.
Should the support trendline fail, the Ethereum price probably will test the $2,224 support level.
After over three years of supremacy, the whale is now once again for sale. Another whale has also left 8,000 ETH valued $21.65 million overall.
Apart from this, another whale feels hopeless about its DeFi tokens. The company has set aside 2,390 ETH valued $6.7 million.
Apart from Ethereum, the whale has also deposited Aave and Compound valued $2.19 million and $132,000 respectively. The likelihood of Ethereum falling further rises as whale sentiment decreases.
#ETHš„š„š„š„š„š„ #ETH #ETHETFsApproved $ETH
Ethereum falls under the increasing adverse effect in the crypto market as Bitcoin struggles to keep above the $96,000 barrier. Currently down around $2,700, the Ethereum price shows an intraday decline of 2.28%.
This produced a botched effort at $2,784 to surpass the 38.20% Fibonacci threshold. Since early February, this main obstacle has kept Ethereum prices below it.
The bounce-back from the local support trendline is not crossing over the 38.20% Fibonacci level just yet. Now trading at a market price of $2,681, the Ethereum cryptocurrency is subject to intraday decline.
The bearish candle's lower price rejection shows optimistic support at lesser levels. This raises Ethereum's chances of a comeback's possibilities to surpass the overhead ceiling.
Should a positive breakout, the uptrend is probably going to hit the 200-day EMA line close to the $3,000 level.
Supporting the upswing, the daily RSI line is reversing from the level of oversold boundary. Still, the falling trend in the dynamic average lines is rather dangerous.
Following the possibilities of a 100-day and 200-day EMA crossing, the recent death cross between the 50-day and 200-day EMA lines warns of a possible collapse.
Should the support trendline fail, the Ethereum price probably will test the $2,224 support level.
After over three years of supremacy, the whale is now once again for sale. Another whale has also left 8,000 ETH valued $21.65 million overall.
Apart from this, another whale feels hopeless about its DeFi tokens. The company has set aside 2,390 ETH valued $6.7 million.
Apart from Ethereum, the whale has also deposited Aave and Compound valued $2.19 million and $132,000 respectively. The likelihood of Ethereum falling further rises as whale sentiment decreases.
#ETHš„š„š„š„š„š„ #ETH #ETHETFsApproved $ETH
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