Ethereum Price Prediction: The Ethereum(ETH) price consolidated between the $1300 and $1238 levels for nearly a week. However, the sellers benefited from the current market uncertainty and breached the lower support. This range breakdown releases the bearish momentum and triggers a longer price correction.
Key points:
A bearish reversal from the $1300 resistance may trigger a sideways trend in Ethereum
The RSI indicator, which accentuates the speed and magnitude of the asset’s recent price, has entered the bearish territory.
The intraday trading volume in Ether is $6.1 Billion, indicating a 21% gain
Source- Tradingview
The recent recovery in the crypto market pushed the Ethereum price to a high of $1300. Hitting the psychological resistance, the altcoin triggered a minor pullback and retested the flipped support of $1238.
While the market sentiment remained uncertain, the ETH price continued to wobble between these aforementioned levels and created a narrow range. However, today, t
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