Hello, welcome to this ETHEREUM /USDT update by CRYPTO SANDERS.
CHART ANALYSIS:-Ethereum Analyzing the daily chart, the price previously formed a higher pattern before experiencing a significant decline. The 50-day moving average at $1.8K acted as a support level, casting a significant shadow on the daily charts and substantial volatility on the lower time frames.
Currently, ETH is confined within a narrow dynamic range between the 50-day EMA, which is currently at $1931, and the key resistance area at $2K.
If the price manages to overcome the $2K resistance and surpass its previous high at $2.1K, it could potentially trigger an extended rally. Conversely, if there is a break below the 50-day EMA, the 100-day moving average at $1.7K will become a primary support level.
Hit the like button if you like it and share your charts in the comments section.
Thank you
CHART ANALYSIS:-Ethereum Analyzing the daily chart, the price previously formed a higher pattern before experiencing a significant decline. The 50-day moving average at $1.8K acted as a support level, casting a significant shadow on the daily charts and substantial volatility on the lower time frames.
Currently, ETH is confined within a narrow dynamic range between the 50-day EMA, which is currently at $1931, and the key resistance area at $2K.
If the price manages to overcome the $2K resistance and surpass its previous high at $2.1K, it could potentially trigger an extended rally. Conversely, if there is a break below the 50-day EMA, the 100-day moving average at $1.7K will become a primary support level.
Hit the like button if you like it and share your charts in the comments section.
Thank you
