- ETH price losses key demand zone of $1,200 again
- Price remains weak as bears battle bulls; so much uncertainty in the market
- ETH price gets rejected from a low of $1,220 on the high timeframe
The price of Ethereum (ETH) trading below $1,200 continues as the price faced rejection, breaking and trending higher to a region of $1,300 after showing from price action bouncing off from its weekly low of $1,080.
In the high timeframe, the price of Ethereum (ETH) looks weak, with a probable result of a downtrend movement compared to an upside. Despite the relief bounce and uncertainty surrounding the crypto market, the FTX fiasco continues to act as a catalyst for the market to bottom out.
Den Domino Effekt vun der FTX Saga an aner grouss Investisseuren huet de Maart gestoppt, well et nach e wesentleche Beweegung gemaach huet, wat d'Suergen iwwer d'Richtung vum Maart erhéicht huet. (Date vu Binance)
Ethereum (ETH) Präis Analyse op der Woch Charts
Despite the relief bounce across the market, with the price of ETH rallying from a weekly low of $1,080 to a high of $1,220, the crypto market remains uncertain and turbulent, affecting the price of Ethereum (ETH). Many altcoins are struggling for survival, trying to stay afloat as the prices of altcoins continue a downward price movement.
Mat sou vill Neiegkeeten vun enger Kapitulatioun viraussiichtlech fir all Krypto Verméigen gekoppelt mat der FTX an aner Krypto-Projeten, déi un der Insolvenz leiden, kéint de Buedem geschwënn era sinn.
ETH’s price had a weekly close below a crucial area of $1,200 after showing so much strength rallying from a weekly low of $1,080 to a high of $1,220 as the price was unable to break above $1,250.
After ETH’s price declined from a high of $1,220 to a region of $1,170, the price has struggled to regain such strength it has rallied to this high with more growing speculation of price retesting the region of $700.
Wöchentlech Resistenz fir de Präis vun ETH - $ 1,250.
Wöchentlech Ënnerstëtzung fir de Präis vun ETH - $ 1,000.
Präis Analyse vun ETH Op der Daily (1D) Chart
The price of BTC remains considerably weak in the daily timeframe after closing below $1,250. With ETH’s price unable to break and close above $1,300, there are growing chances of price retesting the regions of $700.
ETH’s price currently trades at $1,174 below the 50 and 200 EMA, acting as resistance for the price of ETH from trading higher. The price of ETH needs to break above $1,400 and $1,700 for the price of ETH to kickstart the price recovery plan.
Daily resistance for the ETH price – $1,400 & $1,700.
Deeglech Ënnerstëtzung fir den ETH Präis - $1,000- $900.
Featured Image From Reuters, Charts From Tradingview Source: https://newsbtc.com/analysis/ethereum-loses-demand-zone-again-as-bulls-sweat-is-700-realistic-for-investors/