Hello, welcome to this ETHEREUM /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-There was a slight shift in sentiment in ethereum (ETH), with prices moving below $1,600 during today’s session.
Following a high of $1,619.45 on Thursday, ETH/USD dropped to an intraday low of $1,565.25 earlier in the day.
Today’s move came as the world’s second-largest cryptocurrency was unable to break out of a resistance level of $1,640 on Wednesday.
Since this time, prices have moved to lower lows in back-to-back sessions, with Ethereum’s RSI also dropping below a critical point of support.
The index is tracking at 61.94, which is marginally under its recent floor of 63.00, and its weakest level since January 8.
Should this bearish trend continue into the weekend, there is a strong possibility that ETH will hit a floor at $1,500.
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:-There was a slight shift in sentiment in ethereum (ETH), with prices moving below $1,600 during today’s session.
Following a high of $1,619.45 on Thursday, ETH/USD dropped to an intraday low of $1,565.25 earlier in the day.
Today’s move came as the world’s second-largest cryptocurrency was unable to break out of a resistance level of $1,640 on Wednesday.
Since this time, prices have moved to lower lows in back-to-back sessions, with Ethereum’s RSI also dropping below a critical point of support.
The index is tracking at 61.94, which is marginally under its recent floor of 63.00, and its weakest level since January 8.
Should this bearish trend continue into the weekend, there is a strong possibility that ETH will hit a floor at $1,500.
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
