HI Friends 🌼
In the Ethereum analysis that we mentioned on December 21, 1401. We said that if the price stabilizes above $1,200, the next target is $1,350. We also stated that with the price suffering in the blue circle, we should wait for the Sharpe movement of this cryptocurrency.
This Sharpie move was accompanied by a lot of sales pressure. which was able to lower the price of Ethereum to the support level of $1150.
As seen in the chart, Ethereum is in a long-term bearish channel. Currently, in the daily time frame, the price is involved in the support zone of $1150, since the RSI indicator is also in a suitable range, as well as selling pressure and bearish price momentum. We should expect reversal patterns to form in lower support areas. Therefore, the price of this cryptocurrency is more likely to fall.
In the 4-hour time frame of Ethereum, you can see a change in nature from an uptrend to a downtrend. As selling pressure is very high and it is likely to continue to fall, but since we can see it in the RSI indicator, with the increasing pressure of sellers in the red circle of this indicator, it is below the number 30.
Therefore, according to the RSI indicator, the price is expected to have a pullback in the range of $1,200. Also, in this range, we see the FVG price chat, which can attract the price like a magnet up to this range and then continue to fall.
Sponsorships: $1,150, $1,100, $1,000
Resistances: $1,200, $1,350
Arztoday team 🌈
Analyzer ✍: AR.Rashidi
In the Ethereum analysis that we mentioned on December 21, 1401. We said that if the price stabilizes above $1,200, the next target is $1,350. We also stated that with the price suffering in the blue circle, we should wait for the Sharpe movement of this cryptocurrency.
This Sharpie move was accompanied by a lot of sales pressure. which was able to lower the price of Ethereum to the support level of $1150.
As seen in the chart, Ethereum is in a long-term bearish channel. Currently, in the daily time frame, the price is involved in the support zone of $1150, since the RSI indicator is also in a suitable range, as well as selling pressure and bearish price momentum. We should expect reversal patterns to form in lower support areas. Therefore, the price of this cryptocurrency is more likely to fall.
In the 4-hour time frame of Ethereum, you can see a change in nature from an uptrend to a downtrend. As selling pressure is very high and it is likely to continue to fall, but since we can see it in the RSI indicator, with the increasing pressure of sellers in the red circle of this indicator, it is below the number 30.
Therefore, according to the RSI indicator, the price is expected to have a pullback in the range of $1,200. Also, in this range, we see the FVG price chat, which can attract the price like a magnet up to this range and then continue to fall.
Sponsorships: $1,150, $1,100, $1,000
Resistances: $1,200, $1,350
Arztoday team 🌈
Analyzer ✍: AR.Rashidi
