ETH in the support zone
ETHUSDT was falling under the influence of the weak Bitcoin. The has dropped below the 1000.0 level and established a Bearish Trend Line resistance, which indicates the downward bias of the price. Nonetheless, Ethereum is one of the strongest crypto platforms which have an undeniable value for the investors. Hence, while Ethereum price is liable to the Bitcoin panic impulses, but also attract investors to re-balance their portfolios into it.
For now, ETH lowered into the support zone and stumbled on the 700.0 price and 200-days EMA. If Bitcoin does not fall causing a new panic wave, the influx of buyers on this prices would be logical.
Resistance levels from the upside are 800.0 and Bearish Trend Line resistance. In case of a breakthrough of this levels, the next target will be 1000.0.
Closest support levels are the 700.0 price and 200-days EMA.
For now, ETH lowered into the support zone and stumbled on the 700.0 price and 200-days EMA. If Bitcoin does not fall causing a new panic wave, the influx of buyers on this prices would be logical.
Resistance levels from the upside are 800.0 and Bearish Trend Line resistance. In case of a breakthrough of this levels, the next target will be 1000.0.
Closest support levels are the 700.0 price and 200-days EMA.
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