Hello, welcome to this ETHEREUM /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Ethereum (ETH) also moved lower on Monday, however, prices were able to remain above the $1,600 level despite the decline.
Following a high of $1,665.26 on Sunday, ETH/USD dropped by as much as 2% in today’s session, hitting a low of $1,616.30 in the process.
As a result of this sell-off, ethereum moved closer to its recent support level of $1,600. However, bulls have so far rejected a collision.
This has been helped by the RSI, which has found its own floor at 58.00, providing a soft landing for previous bulls.
ETH has since rebounded from earlier losses, and at the time of writing, is trading at $1,630.55.
Should this RSI floor of 68.00 hold, ethereum bulls may attempt to make another move toward $1,700 as the week progresses.
I have tried to bring the best possible outcome to this chart.
Hit the like button if you like it and share your charts in the comments section.
Thank you
CHART ANALYSIS:-Ethereum (ETH) also moved lower on Monday, however, prices were able to remain above the $1,600 level despite the decline.
Following a high of $1,665.26 on Sunday, ETH/USD dropped by as much as 2% in today’s session, hitting a low of $1,616.30 in the process.
As a result of this sell-off, ethereum moved closer to its recent support level of $1,600. However, bulls have so far rejected a collision.
This has been helped by the RSI, which has found its own floor at 58.00, providing a soft landing for previous bulls.
ETH has since rebounded from earlier losses, and at the time of writing, is trading at $1,630.55.
Should this RSI floor of 68.00 hold, ethereum bulls may attempt to make another move toward $1,700 as the week progresses.
I have tried to bring the best possible outcome to this chart.
Hit the like button if you like it and share your charts in the comments section.
Thank you
