Hello, welcome to this ETHEREUM /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Ethereum (ETH) also significantly fell in today’s session, dropping below the $1,600 mark.
Following a high of $1,652.43 on Thursday, ETH/USD moved to a bottom at $1,553.85 earlier in the day.
Today’s drop has pushed the world’s second-largest cryptocurrency to its weakest level since February 15.
As projected earlier in the week, a move towards $1,550 was already on the cards, as the 10-day (red) moving average neared a downward cross with the 25-day (blue) moving average.
The RSI has also contributed to the sell-off, with the index falling below a recent support point of 49.00.
Currently, the price strength on ETH is at 44.51, which is marginally above the next support at 44.00.
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