ETH forming lower lows|Where is the bottom?
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Quick glance: ETH has been forming lower lows since the past 3 weeks. It is a bearish pattern. However, the price is currently at an interesting crossroad. ETH is at the sturdy support level that has been in place since March’21.
Market in the last 24hrs
ETH has been falling rapidly in the past 24 hours. Most Altcoins are inching closer towards the lower levels for the year.
Today’s Trend analysis
The next important support level is around $1620. Ether can be expected to consolidate over the next 24 hours. We might witness momentary spikes, but unless the traded volumes confirm it, these will likely be bull traps. Momentum is clearly bearish.
Price volatility remained high at approximately 7.2%, with the day's range between $1717.17 — $1840.74
Price at the time of publishing: $1765.54
ETH's market cap: $205.34 Billion
Volumes have increased in the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 24 hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Quick glance: ETH has been forming lower lows since the past 3 weeks. It is a bearish pattern. However, the price is currently at an interesting crossroad. ETH is at the sturdy support level that has been in place since March’21.
Market in the last 24hrs
ETH has been falling rapidly in the past 24 hours. Most Altcoins are inching closer towards the lower levels for the year.
Today’s Trend analysis
The next important support level is around $1620. Ether can be expected to consolidate over the next 24 hours. We might witness momentary spikes, but unless the traded volumes confirm it, these will likely be bull traps. Momentum is clearly bearish.
Price volatility remained high at approximately 7.2%, with the day's range between $1717.17 — $1840.74
Price at the time of publishing: $1765.54
ETH's market cap: $205.34 Billion
- Out of 11 Oscillator indicators, 7 are neutral, 1 is bearish and 3 are bullish.
- Out of 15 Moving average indicators, 13 are 'NEUTRAL', 1 is bearish and 1 is bullish .
- Indicator summary is giving a 'SELL' signal on ETHUSD .
Volumes have increased in the past 24 hours.
----------------------------------------------------------------------------------------
The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 24 hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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