- Ethereum remains stable about $ 1.5K.
- The market has witnessed ETH liquidations worth $ 17.69 million.
Cryptographic assets remain trapped in the fear zone, with mixed signs throughout the market, which triggers an uncertain price trajectory. The largest Altcoin, Ethereum (ETH), continues to be maintained by the bearish pressure, sliding at 0.30%.
The bearish territory established by Ethereum seems impossible to escape. An improvement could reinforce once the Altcoin breaks above $ 2K. ETH opened the negotiation day at $ 1,564. The brief wave of bulls has brought the asset to $ 1,615, and has failed to maintain the range, sliding down.
At the time of publication, Ethereum quoted within the range of $ 1,590, with its market capitalization reaching $ 191 billion. The daily negotiation volume has played $ 10.86 billion. In particular, the market observed a liquidation of $ 17.69 million in Ethereum during this period.
In addition, according to the chain data, a whale recently bought 10,328 Ethereum for $ 16.37 million at $ 1,585 each. It usually reflects market confidence.
Is Ethereum trapped in a bearish trend?
Ethereum could return to the close support in the range of $ 1,512 if the bears persist. A cross of death could arise with the lack of maintenance of this level of negotiation, leading the way to a strong decrease to $ 1.5K.
Anticipating a recovery, the Altcoin could rise to the range of $ 1,614. A constant upward correction could send Ethereum to the powerful resistance of $ 1,640. This movement will potentially conduct a sustained upward trend.
The mobile average convergence line of the mobile average of the ETH/USDT (MACD) commerce pair and the signal line have crossed under the zero line. This crossover implies a negative feeling and the fall of Altcoin.
In addition, the Chaikin money flow indicator (CMF) parked at -0.13 points out that capital flows outside the asset. Meanwhile, Ethereum’s daily negotiation volume has decreased by more than 22.98%.
The ETH (RSI) relative force index, which is found in 46.85, suggests the neutral condition, overwhelmed or overendon. In addition, the power value of the bull (BBP) that rests at -3.03 indicates weakness.
Discharge of responsibility: The opinion expressed in this article is only that of the author. It does not represent any investment council. The WayewScrypto team encourages everyone to do their own research before investing.
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