NEWSLETTER
The price of ethereum has constantly decreased in recent months since it was rejected from the level of $ 4,000.
Meanwhile, there is still the possibility of a deeper decrease in the coming weeks.
Technical analysis
The daily table
In the daily table, the asset has been lower since it did not break above the resistance zone of $ 4,000. Since then, it has been broken below several support levels, including the $ 3,000 line and the 200 -day mobile average, located around the $ 2,900 brand.
Yesterday, the Altcoin recovered from the support zone of $ 2,400, but it is likely to return to it, since the RSI still shows a peer and clear impulse signal. If the $ 2,400 level is lost, things could get worse a lot, since a drop towards the $ 2,000 and even lower mark could be expected.
The 4 -hour table
Looking at the 4 -hour table, the price has been consolidated for almost 3 weeks since the mass drop in the $ 3,500 area.
However, the asset has once again started and could still experience a deeper decrease in the next few days. However, it is likely that the level of $ 2,400 keeps the market and starts a setback towards the level of $ 2,800 if it remains intact.
Feelings analysis
Long settlements (30 -day mobile average)
This picture presents the liquidations of ethereum Long, one of the most important metrics that must always be monitored when the price experiences a significant fall. This metric measures the number of positions of long future liquidated every day.
As the graph shows, during the recent accident, the market experienced a massive long liquidation waterfall, the largest in recent years. If these liquidations continue, more inconvenience could be expected, since the closure of these long positions will be added to the current sales pressure.
However, taking into account the magnitude of recent settlements, the futures market is definitely cooling, and a more sustainable price action would be more likely in the short term.
Free Binance $ 600 (Cryptopotato Exclusive): Use this link to record a new account and receive an exclusive welcome offer of $ 600 in Binance (Complete details).
Limited offer for Cryptopotate readers at Bybit: Use this link to register and open a free $ 500 position in any currency!
Discharge of responsibility: The information found in Cryptopotato is that of the aforementioned writers. It does not represent Cryptopotato's opinions on whether to buy, sell or make any investment. It is advisable to carry out your own research before making investment decisions. Use information provided under your own risk. See discharge of responsibility to obtain more information.
Cryptocurrency graphics By TrainingView.
<!– ai CONTENT END 1 –>
(Tagstotranslate) ethereum (eth) Price
