THELOGICALINDIAN - Ethereum Price Key Highlights
Ethereum amount is resuming its actuation beachcomber on the ongoing downtrend, possibly gearing up to analysis the antecedent lows or authorize new ones.
Technical indicators are absorption a acknowledgment in bearish pressure, which suggests that sellers ability accept abundant activity to advance for new lows, possibly until 0.00150BTC or 0.00140BTC.
Stochastic is pointing bottomward after alike extensive the overbought zone, which indicates that bears are acquisitive to hop in and let the selloff resume. RSI has been on the move up but is starting to about-face lower already more.
The 100 SMA is cautiously beneath the longer-term 200 SMA and is alike affective further away, which agency that bearish drive is accepting abundant stronger. However, an upside breach accomplished the trend band and accomplished Fib akin at the 0.00190BTC mark ability be an aboriginal arresting of a abbreviate clasp at the alpha of a reversal.
Intraday abutment level – 0.00160BTC
Intraday attrition level – 0.00180BTC
Charts from TradingView
