Ethereum price analysis is bearish today as we have seen consolidation and another spike lower to the $1,000 mark. Therefore, we expect ETH/USD to push even lower, opening the way for a lot more downside to be reached by the end of the month.
The market has traded in the red over the last 24 hours again. The leader, Bitcoin, lost 7.86 percent, while Ethereum 8.67 percent. The rest of the top altcoins have followed close by with similar bearish results.
Ethereum price movement in the last 24 hours: Ethereum fails to recover as consolidation breaks lower
ETH/USD gehandelt an engem Beräich vun $986.85 bis $1,095.56, wat bedeitend Volatilitéit iwwer déi lescht 24 Stonnen besot. Den Handelsvolumen ass ëm 15.43 Prozent erofgaang, am Ganzen $ 14.86 Milliarden, wärend de Gesamtmaartkapital ëm $ 121.27 Milliarde handelt, wat zu enger Maartdominanz vun 14.36 Prozent resultéiert.
ETH / USD 4-Stonne Diagramm: ETH gesäit aus fir $ 1,000 ze briechen?
On the 4-hour chart, we can see a pause at the $1,000 mark, likely as a slight reaction higher will follow over the next hours before more downside is seen later in the weekend. However, given the current bearish market structure, we expect further downside to follow once that is done.
Ethereum Präis action has seen strong selling pressure over the past weeks. From the last swing high at $1,900, ETH/USD has already lost over 45 percent, indicating that bears should be exhausted.
Additionally, the past lower lows have reached only a slight downside, while the following reaction higher retested the $1,250 mark, indicating a reversal slowly forming. However, since another slightly lower low was set overnight at $1,000, the trend is still bearish.
Therefore, we expect ETH to break even lower soon. Likely, yesterday`s consolidation area will be retested as resistance before another lower local high is set. From there, bears should have enough momentum to finally break the $1,000 mark in a clear way.
Once the $1,000 mark is broken, we expect the Ethereum price to fall to the next psychological support level at $900. If it can not be reached, a reversal could follow early next week.
Ethereum Präisanalyse: Conclusioun
Ethereum price analysis is bearish today as we have seen another steady decline and retest of the $1,000 support. Since a clear reaction higher has not followed, we assume bears will soon look to push the market even lower. However, a slight local retrace could be seen later in the day to set up the next spike lower.
Wärend op Ethereum waart fir weider ze goen, kuckt eis Präisprognose weider UNUS SED LEO, BITO, an Klaytn.
Quell: https://www.cryptopolitan.com/ethereum-price-analysis-2022-06-18/