Crypto NewsEthereum (ETH)

Ethereum Struggles to $2,000, But More Pain Looming?

                                                            Ethereum  konnte sich nicht über 2.000 $ konsolidieren und befindet sich erneut unter diesem Niveau.  Die Verkäufer scheinen die Oberhand zu haben, da sogar der ETH/BTC-Chart derzeit im Mittelpunkt vieler Diskussionen steht.

Technical Analysis

By Grizzly

The daily chart

The break of the MACD line through the signal line (yellow circle) is widely viewed as a bullish signal on the daily time frame. This has happened in the past, as shown in the yellow rectangle diagram. However, the price has continued to move downwards in each case. In other words, there must be more than one confirmation to signal a reversal.

Bullish momentum is usually initiated when the MACD and signal lines both step into the positive side as the price breaks the daily MA50. This can be taken as a more convincing confirmation.

Key support levels: $1700 and $1500

Airdrop from VNSMART Ethereum Struggles to $2,000, But More Pain Looming?, Crypto Trading News

Important resistance levels: $2200 & $2450
Ethereum Struggles to $2,000, But More Pain Looming?, Crypto Trading News TradingView
Moving Averages:

MA20: $2130

MA50: $2645

MA100: $2775

MA200: $3226

The ETH/BTC chart

As can be seen in the chart below, the price has lost dynamic support (in yellow) against Bitcoin and even on retest, the bulls failed to push it above the trendline.

This indicates that the downtrend is strong. However, the most significant level remains the static support (in green), which the bulls have defended twice so far. Ethereum and altcoins are likely to see a stronger decline if the sellers successfully push the price to the green levels. In this case, ETH can reach $1500 and even $1300.

Key support levels: 0.065BTC & 0.06BTC

Important resistance levels: 0.07BTC & 0.072BTC

Ethereum Struggles to $2,000, But More Pain Looming?, Crypto Trading News

Source: Crypto News Deutsch

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