Ethereum price (ETH) is falling as it faces resistance at the high of $1,200. ETH /USD moved between the levels of $1,070 and $1,350 in the past price action.
Ethereum Präis laangfristeg Analyse: bearish
Below the high of $1,200, the upward movement is limited today. Ethereum is now trading in a restricted range between $1,070 and $1,200. After rejecting the $1,200 or the 21-day line SMA, Ether is currently falling. Sellers will try to test the support at $1,000 for the third time. If the $1,000 level holds, Ether will recover and overcome the $1,200 level. Until the high of $1,400, the positive trend will continue. On the other hand, if the bears break below the $1,000 support, the decline will continue. Ether will become cheaper and reach a new low at $720.
Ethereum Indikator Analyse
On the Relative Strength Index for period 14, Ethereum is at level 39. It is currently in a downtrend area and could continue to fall. A further decline is predicted as the price bars remain below the moving average lines. The 21-day and 50-day lines SMA are sloping downward, indicating a decline. The daily chart’s stochastic is below the 50 level, indicating a bearish momentum.
Technesch Indikatiounen
Schlësselwidderstandsniveauen - $ 2,000 an $ 2,500
Schlëssel Supportniveauen - $ 1,500 an $ 1,000
Wat ass déi nächst Richtung fir Ethereum?
It is likely that Ethereum will continue to fall due to resistance at the 21-day line SMA. If the current support is broken, the price indicator will show a possible decline. Ether had an upward correction during the decline on November 9 and a candlestick tested the 61.8% Fibonacci retracement level. After the correction, ETH will fall to a low of $703 or the 1,618 Fibonacci Extension level.
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Source: https://coinidol.com/ethereum-risks-drop-720/