The largest subcoin with market value Ethereum (ETH) $2,697.21In the year it started with a decline, it remains a decline tendency. ETH, which lost 3.5 percent in the last 24 hours, fell to 2 thousand 620 dollars. With the increase in sales pressure, the price is approaching critical support levels. According to the technical analysis, ETH may drop to 2 thousand 120 dollars if it cannot maintain existing levels.
Ethereum Analysis and Interpretation: A decrease tendency continues
Ethereum has been moving in the range of 2 thousand 565 – 2 thousand 800 dollars for the last two weeks. However, this recent decline caused the price to be based on the lower limit of this consolidation zone. If Eth If it breaks the level of 2 thousand 560 dollars, sales pressure may increase and the price may decrease by 15 percent to 2 thousand 120 dollars.
Technical indicators show that the decline tendency continues. ETH is traded under the 200 -day exploitation average (EMA). This indicates that the market is still under the control of bears. This region, which is carefully watching by investors altcoinIt may be decisive in terms of direction.
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What do ETH investors and traders do?
For now ETH marketMixed signals are seen. According to CoNSS data, there was an ETH output of $ 68 million in the last 24 hours from the stock exchanges. This reveals that some investors show interest in long -term purchase. However, the general market sensitivity is downward.
On the other hand, the bears are more dominant in futures transactions. 2 thousand 650 dollars at the level of 121 million dollars at the level of short positions, 2 thousand 605 dollars of a long position of $ 90 million. The higher Short positions shows that ETH’s downward movement can continue.
The current movement in ETH price attracts the attention of investors while the direction of the market remains uncertain. In the coming days, 2 thousand 560 dollars will be broken whether the support of the price will be critical for the future.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
