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ETH Facing Crucial Support, Next Dump to $1000? (Ethereum Price Analysis) – Crypto News News

                                                            Wie vorhergesagt, wirkte sich der vom FOMC vorgeschriebene Anstieg um 75 Basispunkte negativ auf die Märkte für traditionelle und Cryptowährungen aus. Ethereum (ETH) brach um 13 % ein und fiel in Richtung der 1200-Dollar-Marke, womit es den niedrigsten Stand seit Mitte Juli verzeichnete.

This is what awaits you in this article

Technical Analysis

By Grizzly

The daily chart

ETH is currently trading in a critical support zone between $1230 and $1280 (in green) along with the 0.618 Fib retracement level at $1210 (in yellow). After hitting that Fib level, ETH rebounded 6% earlier today.

If this level collapses in the coming days, $1000 is likely to become the next significant support. Until ETH closes below $1,210, this scenario will not be triggered. Alternatively, if the bulls break above the range, the next big one lies Resistance at $1420 (in red).

Hopes for a trend reversal will be revived if they close a candle above this level. If not, the uptrend could be considered a pullback.

Key support levels: $1210 & $1000

Important resistance levels: $1420 and $1650

Daily moving averages:

MA20: $1536
MA50: $1633
MA100: $1468
MA200: $2016

ETH Facing Crucial Support, Next Dump to $1000?  (Ethereum Price Analysis) – Crypto News News, Crypto Trading News

The ETH/BTC-Diagram

Yesterday, after more than two months, the ETH/BTC trading pair closed below the 200-day moving average line (seen in white). Given the dominance of bearish market sentiment, there is a significant chance that 0.065 BTC (in green) will retest as support.

The bulls are likely to defend this level. This scenario will be invalidated if the price pulls back above the daily MA200 at 0.069 BTC.

Key support levels: 0.065 & 0.06 BTC

Important resistance levels: 0.069 & 0.075 BTC

ETH Facing Crucial Support, Next Dump to $1000?  (Ethereum Price Analysis) – Crypto News News, Crypto Trading News

On-Chain Analysis

Active addresses (SMA 30)

definition: The total number of unique active addresses, including senders and recipients.

On-chain data shows that uptrends are often, though not always, followed by an increase in the number of active addresses on the network – a sign of growth in on-chain activity.

Even if this one index has risen slightly in the last few days, this is not yet noticeable. On the other hand, if this metric goes down again, the likelihood of a price drop increases.

ETH Facing Crucial Support, Next Dump to $1000?  (Ethereum Price Analysis) – Crypto News News, Crypto Trading News

Source: Crypto News Deutsch

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