The shared resistance of $3580 and 200 DMA triggered a minor retracement in ETH / וסד 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.
שליסל ווייזט:
- 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
- די ינטראַדיי טריידינג באַנד אין יטער איז $ 1.64 ביליאָן, וואָס ינדיקייץ אַ אָנווער פון 34%.
מקור- Tradingview
During the recent recovery rally, the ETH פּרייַז 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.
- קעגנשטעל הייך: $ 3350 און $ 3600
- שטיצן לעוועלס: $ 3000 און $ 2738
טעכניש ינדיקאַטאָר
וואָרטעקס ינדיקאַטאָר– 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.
אָפּלייקענונג
די דערלאנגט אינהאַלט קען אַרייַננעמען די פערזענלעכע מיינונג פון די מחבר און איז אונטערטעניק צו די מאַרק צושטאַנד. טאָן דיין מאַרק פאָרשונג איידער ינוועסטינג אין קריפּטאָקוררענסי. דער מחבר אָדער די ויסגאַבע איז ניט פאַראַנטוואָרטלעך פֿאַר דיין פערזענלעכע פינאַנציעל אָנווער.
וועגן מחבר
Source: https://coingape.com/markets/ethereum-price-prediction-can-dma-crossover-prevent-eth-from-further-losses/