The shared resistance of $3580 and 200 DMA triggered a minor retracement in ETH / USDT pair. On April 6th, the sellers gave a strong breakdown from the $3300 support, suggesting further price correction to $3000. A bullish crossover between 50 and 100 DMA at $3000 support may provide dip opportunities to long traders.
Schlëmmsten Punkten:
- The ETH price forms a bearish engulfing candle in the weekly time frame chart
- The 50 and 100 DMA are heading towards a bullish crossover
- Den Intraday Handelsvolumen an Ether ass $ 1.64 Milliarde, wat e Verloscht vun 34% ugeet
Quelltext- Tradingview
During the recent recovery rally, the ETH Präis outperformed Bitcoin through a 47% gain in the last three weeks. The bullish rally hit the $3457 resistance zone, its highest level since early January.
However, the sellers took advantage of the current volatility in the market and slumped the altcoin below the $3300 support. As a result, the ETH price tumbled by 10% since last week and is poised to provide a weekly closing below the breached support.
The weekend is spent to retest the $3300 flipped resistance and confirm a genuine breakdown. The 20 DMA would assist sellers in maintaining trend control and dumping the altcoin by another 8.5% to $3000 physiological support.
The interested buyers need to watch this level closely as a bullish crossover among the 50 and 100 DMA at the support zone($3000) may bolster an upside reversal.
- Resistenzniveau: $ 3350 an $ 3600
- Ënnerstëtzungsniveauen: $ 3000 a $ 2738
Technesch Indicator
Vortex Indikator– a bearish crossover between the VI+ and VI- slopes would provide additional confirmation for downfall.
The average directional index: Moreover, the declining ADX(22) slope hints that buyers are losing their grip on ETH price.
Verzichterklärung
Dee presentéierten Inhalt kann d'perséinlech Meenung vum Autor enthalen an ass ënner Zoustand vum Maart. Maacht Är Maartfuerschung ier Dir a Kryptowärungen investéiert. Den Autor oder d'Publikatioun huet keng Verantwortung fir Äre perséinleche finanzielle Verloscht.
iwwert Auteur
Source: https://coingape.com/markets/ethereum-price-prediction-can-dma-crossover-prevent-eth-from-further-losses/