The price of Ethereum (ETH) is in a downward correction as the price falls below the moving averages. Today, Ether fell to a low of $2,588.
עטהערעום פּרייַז לאַנג-טערמין אַנאַליסיס: בעריש
The recent drop in the price is due to the failure of buyers to break above the moving averages on March 9. Buyers have been struggling to overcome the moving averages since February 9. Every time the buyers fail to break the moving averages, the largest cryptocurrency will make another low. In other words, the Ether price has reached a series of lower highs and lower lows.
On the downside, ETH/USD will regain the previous lows of $2,301 or $2,160 if the downtrend continues. On the upside: if the bulls break the moving averages and the bullish momentum continues, Ether will come out of the downside correction. Ethereum will regain its bullish momentum if it breaks above the resistance at $3,200.
אַנאַליסיס פון עטהערעום ינדיקאַטאָרס
Ether is at the level 44 of the Relative Strength Index for the period 14. The cryptocurrency is in a downtrend area and below the midline 50. The altcoin is in a position to fail to the downside. The moving averages are sloping south, indicating the downtrend. Ether is below the 30% range of the daily stochastic. The market is in a bearish momentum.
טעכניש ינדאַקייטערז:
שליסל קעגנשטעל לעוועלס - $ 4,500 און $ 5,000.
שליסל שטיצן לעוועלס - $ 3,500 און $ 3,000
Which direction is Ethereum heading?
ETH/USD is still in a downtrend, but selling pressure has eased after the January 22 price drop. Meanwhile, the downtrend from January 8; a retracement candlestick tested the 78.6% Fibonacci retracement level. The retracement suggests that ETH will fall to the 1.272 Fibonacci extension level or $2,448. Ether continues to move above the level of the 1.272 Fibonacci extension.
אָפּלייקענונג. די אַנאַליסיס און פאָרויסזאָגן זענען די פערזענלעכע מיינונגען פון דער מחבר, וואָס זענען נישט אַ רעקאָממענדאַטיאָן צו קויפן אָדער פאַרקויפן קריפּטאָקוררענסי און זאָל ניט זיין וויוד דורך קאָינסידאָל. רידערז זאָל דורכפירן זייער פאָרשונג איידער ינוועסטינג געלט.
Source: https://coinidol.com/eth-fluctuates-risks/