ETH Volatility Skyrockets Amid Recovery Above $1.6K, Whats Next? (Ethereum Price Analysis)
EthereumETH Volatility Skyrockets Amid Recovery Above $1.6K, Whats Next? (Ethereum Price Analysis)09 / 08 / 2022Balita ng Ethereum ng Bitcoin With the Merge taking place a week from now, ETH remains the market leader and outperformed Bitcoin. However, it is clear from the technical chart that there are significant obstacles standing in the path forward. Ethereum is moving within a descending chanel (in blue) on the daily chart. This resistance line has prevented further growth since registering its all-time high. When the price last hit the chanels top in August, it suffered a drop to $1,422 as a consequence. The scenario for the Relative Strength Index (RSI 30d) is comparable. The descending line (in white) that has formed over the last 12 months is acting as resistance. To fulfill the two important goals — breaking out of the chanel and overcoming the horizontal resistance at $1,800 — the bulls must now drive the price above that level (in red). This coincides with gaining momentum above the descending line in the RSI. On the other hand, if the Merge turns out to be a sell-the-news event, investors should be ready for heightened pressure that could send the price back to $1350 and even lower. Mga Pangunahing Mga