ETH falls below $ 4,000, this is the next critical level to watch

                                                            ETH hat erneut das Schlüsselniveau von 4.000 USD verloren.  In der folgenden Analyse werden wir versuchen zu verstehen, was dies in nächster Zeit für die zweitgrößte Crypto bedeutet.

Major support levels: $ 3,738

Key Resistance Levels: $ 4,000, $ 4,435, $ ​​4,868 (ATH)

After holding the crucial level above USD 4,000 for a few days, the ETH price fell below this important price range, which is turning back into a solid one resistance has transformed. The momentum just wasn’t there to hold above course. As mentioned earlier, the recent price move was followed by low trading volume.

Current support is at $ 3,738 and is likely to be retested if the bulls don’t rise soon.
Chart according to TradingView

Technical indicators

Trading Volume: As mentioned earlier, the volume was extremely low earlier this week and the bears benefited from it today. The price slipped on renewed volume, which is bearish.

RSI: The daily RSI is also bearish, below 50 points, suggesting that the bears are controlling price movements.

MACD: The daily MACD remains bullish and is losing momentum. The histogram and moving averages could soon turn to the bearish side if the current downtrend continues.
Chart according to TradingView

Bias

The bias for ETH is bearish now due to the current price promotion.

Short-term price forecast for ETH

ETH couldn’t hold up above $ 4,000. This is an important red flag and could encourage sellers to lower ETH to the current $ 3,738 support. It is unlikely that ETH will be able to recover any time soon; Hence, the best hope is that the price will stay above vital support when the bulls join forces.

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