Technical Analysis
By TradingRage
Ethereum’s price fell below the key $2,000 level once more, following weeks of aggressive rallying. Yet, a bullish continuation could not be written off yet, as the market is seemingly climbing back above the mentioned level.
The Daily Chart
On the daily chart, the price has been rejected decisively from the $2,150 resistance level and dropped below the $2,000 mark.
The Relative Strength Index has previously pointed to the probability of this correction with a clear overbought signal. At the moment, the market is once again testing the $2,000 resistance level and might be able to break back above soon. The price action’s near future heavily relies on the reaction to the $2,000 zone.
Source: TradingView
The 4-Hour Chart
As the 4-hour timeframe depicts, while the market has been trending downward, there is a lack of significant bearish momentum. This can be interpreted from both the Relative Strength Index failing to reach extremely low values as we
We współpracy z: https://cryptopotato.com/eth-testing-2k-but-is-another-correction-imminent-ethereum-price-analysis/
