Fallend Volumen Hiweiser D'Ethereum Präiskorrektur ass temporär; Kaaf elo?

The Ethereum price is currently going through a minor correction and stalls its prevailing recovery phase. From the $1300 mark, the altcoin has tumbled 3.5% and shows a high possibility for further downfall. If the selling pressure persists, the sellers could retest a recently breached resistance of $1220 as a possible support, but will the price sustains above this support?

Schlëmmsten Punkten: 

• A higher price rejection candle at $1275 resistance suggests a prolonged downfall
• A potential down to $1220 will bolster buyers to replenish the bullish momentum.
• Den Intraday Handelsvolumen an Ethereum ass $ 10 Milliarde, wat e Verloscht vun 16.5% ugeet. 

Quelltext- Tradingview

A V-shaped recovery from the $1100-$1080 support surged the Ethereum Präis 20% higher to $1300. This bullish rally bolstered buyers to surpass some significant resistances, such as $1160, $1220, and $1275.

Furthermore, the buyers tried to sustain above the $1275 support over the past three days but failed miserably when the price plunged below it on December 3rd. Thus, the bearish engulfing candle triggers a minor correction in Ethereum’s ongoing recovery.

As of today, the ETH price is currently trading at $1257, with an intraday of 1.35%. However, the long-wick rejection attached to the daily candle indicates the price sustainability below the $1257 mark.

With sustained selling, the der Altcom may plunge another 3% to retest the $1220 support. Moreover, this downfall, backed by decreasing volume, indicates the ongoing correction is temporary.

Thus, the $1257 support aligned with the 0.382 Fibonacci retracement level offers a strong footing to resume the prior recovery.

On a contrary note, the daily candle closing below the $1257 support will weaken the bullish thesis.

Technesch Indikator -

Relative Stäerkt Index: der deeglech RSI Steigungen failed to sustain above the neutral line, indicating uncertainty among market participants.

EMAs: the 50-day EMA assisted the sellers in reverting the prices from the $1300 mark. Moreover, the downsloping 100-and-200-day EMA accentuated an overall downtrend.

Ethereum Intraday Präisniveauen

• Spotpräis: $ 1256
• Trend: Bullesch
• Volatilitéit: Mëttel
• Resistenzniveau - $ 1375 an $ 1500
• Ënnerstëtzung Niveau- $ 1220 an $ 1160