The banking crisis hit the market for one more time, but during the negative news about First Republic Bank, Ether`s price had a relatively weak response. It seems that this time, bank depositors were more focused on BTC rather than on other coins on the market. Still, ETH had relatively solid performance, moving the price from $1.8K, up to the highest weekly level at $1.960. The coin is finishing the week around the $1.9K level.
Three weeks ago, RSI reached a clear overbought market side, so short term reversal was in store for ETH. This move was modestly interrupted with an ongoing banking crisis, but it will inevitably continue during the weeks to come. RSI continued to move around level of 50, without a strength for a move to the higher grounds. Moving average of 50 days continue to diverge from MA200 counterparts, which is positive for ETH, as such moves continue to support the Golden cross.
Current charts are pointing to the potential for a $1.850 support line to be tested in the week ahead. Next support line stands at $1.750 and there is some chance that this level might also be tested in the days to come. On the other hand, the probability for the price to reach $2K for one more time is quite weak at this moment.
Three weeks ago, RSI reached a clear overbought market side, so short term reversal was in store for ETH. This move was modestly interrupted with an ongoing banking crisis, but it will inevitably continue during the weeks to come. RSI continued to move around level of 50, without a strength for a move to the higher grounds. Moving average of 50 days continue to diverge from MA200 counterparts, which is positive for ETH, as such moves continue to support the Golden cross.
Current charts are pointing to the potential for a $1.850 support line to be tested in the week ahead. Next support line stands at $1.750 and there is some chance that this level might also be tested in the days to come. On the other hand, the probability for the price to reach $2K for one more time is quite weak at this moment.
