The Ethereum price (ETH) is in a downtrend, falling to the low of $1,311.90. In the lower time frame, the Ether price is forming a series of lower highs and lower lows.
Ethereum tau suʻesuʻega umi taimi: bearish
The current downtrend is likely to continue as the cryptocurrency turns lower from the 21-day moving average line. Ether has fallen to the low of $1,220 and has recovered. The current support is the resistance level from July 8. On the downside, the market will fall to a low of $1,162 if sellers break the current support level. The biggest altcoin will continue its uptrend if Ether holds above the current support and rises again. On July 16, the bulls broke through the resistance level and resumed the uptrend. Buyers pushed the cryptocurrency to the high of $2,019 on August 13.
Ethereum faailoilo auiliiliga
Ether is at level 37 of the Relative Strength Index for the period 14. The largest altcoin is in the downtrend zone and could fall further. The price bars are below the moving average lines as the market reaches bearish exhaustion. Altcoin is below the 50% area of the daily stochastic. Ether is in a bearish momentum.
Faailoilo Technical
Sone tetee autu: $2,500, $3,300, $4,000
Sone lagolago autu: $2,000, $1,500, $1,000
O le a le isi itu mo le Ethereum?
The downtrend is likely to resume when the current support is broken. In the meantime, the downtrend from September 19 has shown a candlestick testing the 61.8% Fibonacci retracement level. The retracement suggests that ETH will fall to the 1.618 Fibonacci extension level or $1,162.82.
Fa'ailoga. O lenei auʻiliʻiliga ma faʻamatalaga o manatu patino ia o le tusitala ma e le o se fautuaga e faʻatau pe faʻatau atu cryptocurrency ma e le tatau ona vaʻaia o se faʻamaoniga a CoinIdol. E tatau i le aufaitau ona fai a latou suʻesuʻega aʻo leʻi faʻafaigaluegaina tupe.
Source: https://coinidol.com/ethereum-faces-downward-pressure/