Ethereum ETHUSDT Price Analysis April 7, 2023
ETHUSDT
Ether faced a decline after reaching
1
,943 on April 5, which suggests that the bears are actively defending the psychological threshold of
2
,000. The initial level of support is
1
,857. If this level is broken, the ETH/USDT pair could experience a pullback towards the 20-day exponential moving average (EMA) (
1
,794), which is the critical level for the bulls to maintain in order to keep the uptrend going. If the price rebounds from the 20-day EMA, the bulls will attempt to overcome the
2
,000 hurdle once again. In that case, the pair could potentially rise to
2
,200. On the flip side, if the price breaks below the 20-day EMA, it might entice short-term traders to take profits. The pair could then drop to
1
,743, followed by a potential further decline to
1
,680. Let me know what you think!
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