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ETH/USDT UPDATE:-
The price of Ethereum fell sharply against the US dollar and Bitcoin yesterday. The short uptrend that started on August 21 resulted in a sharp rejection once touching the $2K mark.
ETH then quickly lost the important support range of $1,700-$1,800, and as of writing these lines – trading below $1500.
The price has experienced severe drops after breaking below the two marked bear flags, as seen on the chart. Simultaneously, the price broke below the 100-day moving average line (in white). Currently, the average value of the 100-day chart is $1,531. Bears are now attempting to close the daily candle beneath it.
With a lower low formation, the possibility of reaching the support zone at $1,280-$1,350 (in green) will become likely. Hope will return to the market only if the bulls can reclaim the $1,700 – 1,800 range.
Support Levels: $1500 & $1350
Resistance Levels: $1800 & $2000
Remember:-This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade.
Thanks for your time, we hope our work is good for you, and you are satisfied, we wish you a good day and big profits.
THANK YOU.
ETH/USDT UPDATE:-
The price of Ethereum fell sharply against the US dollar and Bitcoin yesterday. The short uptrend that started on August 21 resulted in a sharp rejection once touching the $2K mark.
ETH then quickly lost the important support range of $1,700-$1,800, and as of writing these lines – trading below $1500.
The price has experienced severe drops after breaking below the two marked bear flags, as seen on the chart. Simultaneously, the price broke below the 100-day moving average line (in white). Currently, the average value of the 100-day chart is $1,531. Bears are now attempting to close the daily candle beneath it.
With a lower low formation, the possibility of reaching the support zone at $1,280-$1,350 (in green) will become likely. Hope will return to the market only if the bulls can reclaim the $1,700 – 1,800 range.
Support Levels: $1500 & $1350
Resistance Levels: $1800 & $2000
Remember:-This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade.
Thanks for your time, we hope our work is good for you, and you are satisfied, we wish you a good day and big profits.
THANK YOU.
