Are there more problems in advance for ETH after 14% weekly fall?

The price of ethereum has constantly decreased in the last two weeks and has not yet shown any recovery signal.

As things are, you could expect a deeper decrease in the coming weeks.

Technical analysis

By Edrakhshi (Commercial Mentor)

The daily table

In the daily table, the asset has gradually decreased after breaking the 200 -day mobile average, located around the $ 3,000 brand, down.

The level of $ 2,700 has also been lost, and the market could now point to the support zone of $ 2,350. However, with the RSI entering the overall region, a bullish recoil could soon occur, which could even end the bearish trend if the market can recover above the 200 -day mobile average.

The 4 -hour table

Looking at the 4 -hour period, it is evident that the price has established itself within a descending channel adjusted around the level of $ 2,700. Currently, the market is testing this level from below, and if it is rejected, a breakdown of the channel and a fall towards the level of $ 2,350 would be imminent.

However, if the opposite scenario occurs and the level of $ 2,700 is claimed, it is likely that a rally towards the key area of ​​$ 3,000 is.

Chain analysis

By Edrakhshi (Commercial Mentor)

Exchange reserve

While the price of ethereum has experienced an aggressive bearish trend, things may seem attractive to long -term investors who like to buy the dip. This is somehow obvious when the ethereum Exchange reservation is seen.

The metric measures the total amount of eth that is maintained in the change wallets. It is considered a proxy for the supply, since these currencies can be sold quickly and add to the general sales pressure.

However, as the picture suggests, the Exchange reserve has recently had an immersion in the nose after the recent market collapse. This indicates that some investors accumulate aggressively during this correction, and the subsequent retirement of supply could lead to recovery.

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