Patterns still show growth potential!
Hello to all members of TradingView and my followers.
Ethereum's price fell 6.5% in the last 24 hours as bears strengthened their presence in the new month. The price of the second largest cryptocurrency rose last week to the point where it crossed the $180 mark.
More losses are likely as the week progresses, especially if it fails to retrace its highs.
In the four-hour time frame, the insistence on creating higher ceilings is still seen, and until this behavior changes, the opinion about the trend reversal is associated with risk.
The trend has recently been oscillating around the EMA 50 average, representing the weekly market trends, indicating that buyers are cautious. But still, this average is fixed above the 200 EMA.
The price drop this week is considered a correction against the growth direction of last week. But for us to hope for continued price growth, this drop should not break the key support of $1,483 - $1,443.
In case of an early turn and breaking the resistance of 1666-1696 dollars, we can look forward to continuing the growth up to $1915.
Good luck!
Ethereum's price fell 6.5% in the last 24 hours as bears strengthened their presence in the new month. The price of the second largest cryptocurrency rose last week to the point where it crossed the $180 mark.
More losses are likely as the week progresses, especially if it fails to retrace its highs.
In the four-hour time frame, the insistence on creating higher ceilings is still seen, and until this behavior changes, the opinion about the trend reversal is associated with risk.
The trend has recently been oscillating around the EMA 50 average, representing the weekly market trends, indicating that buyers are cautious. But still, this average is fixed above the 200 EMA.
The price drop this week is considered a correction against the growth direction of last week. But for us to hope for continued price growth, this drop should not break the key support of $1,483 - $1,443.
In case of an early turn and breaking the resistance of 1666-1696 dollars, we can look forward to continuing the growth up to $1915.
Good luck!
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