Ethereum (ETH) made a fakeout last week and immediately washed gains with a bearish engulfing candle. This led to a roller coaster for weeks as the bears seemed ready to mount pressure again. Currently down by 2% weekly.
The first quarter of the year saw Ethereum’s price rally from the low of $1,180 to the high of $1850 in six weeks. That high area is where the bears are negotiating at the time of writing.
In the middle of that period, it saw a deep correction to around $1370, which also brought a test to the lower boundary of the broadening wedge.
A bounce from that boundary rallied the price hard to the peak of $2141 on April 16 – an over 80% gain in a month – as it tested the upper boundary of the wedge. Ethereum technically rejected that peak level, consolidated for a few days and started to lose momentum.
It later encountered critical support at $1800 and held well above it upon several failed attempts to pass through. Last week saw the price through a small recovery. But the price fell back after a false breakout, which has trapped the bulls around the $2000 price level for the past five days.
ETH currently trades around $1850, looking poise for more drops on the daily chart. It must conquer that critical support to test the lower boundary of the wedge for a fresh buy.
កម្រិតសំខាន់របស់ ETH ដើម្បីមើល
If the price manages to pass through the critical support, there’s a minor support level at $1,788.4 before slipping further to $1,722.9. The support levels near the lower boundary are $1678.9 and $1590.
Restarting bullish above the critical support, Ethereum must overcome the $1948 and $2030 levels. By then, we can expect more rallies to $2160 and $2,304.
កំរិតតស៊ូគន្លឹះ៖ $ 1,948, $ 2,030, $ 2,160
កំរិតគាំទ្រគន្លឹះ៖ $ 1,788.4, $ 1,722.9, $ 1,678.9
- តម្លៃពិសេស៖ $1,835
- និន្នាការ: ធ្លាក់ចុះ
- ភាពប្រែប្រួល: ខ្ពស់
ការបង្ហាញ៖ នេះមិនមែនជាការណែនាំអំពីការជួញដូរ ឬការវិនិយោគទេ។ តែងតែធ្វើការស្រាវជ្រាវរបស់អ្នកមុនពេលទិញរូបិយប័ណ្ណគ្រីបតូ ឬវិនិយោគលើសេវាកម្មណាមួយ។
Image Source: oreora/123RF // បែបផែនរូបភាពដោយ ជាតិពណ៌
Source: https://nulltx.com/ethereum-price-analysis-prediction-may-10th-this-level-remains-critical-support-for-eth-bears-to-crack/