ETH Facing Huge Resistance, Is $1600 or $2000 Next? (Ethereum Price Analysis)
Ethereum ETH Facing Huge Resistance, Is $1600 or $2000 Next? (Ethereum Price Analysis) Balita ng Ethereum ng Bitcoin Ethereums price has been consolidating over the past week as the price is struggling to break above a key resistance area. Did ETH mark a local top? Teknikal na Pagsusuri ng Ni: Edris Ang Pang-araw-araw na Tsart: On the daily time frame, ETHs price has broken above the symmetrical triangle pattern lately and above the 50-day moving average line (around the $1600 mark). However, ETH is trading inside a very tight range above the broken triangle and has yet to break with confidence above the $1800 level. If the market fails, a pullback toward the 50-day and even the 200-day moving average located around the $1600 and $1400 levels, respectively, could be expected. On the other hand, a valid break above the $1800 level could lead to another short-term rally – first to target the $2K level for the first time in 2023, and then a further target amind the $2300 area. Ang 4-Oras na Tsart On the 4-hour chart, the consolidation becomes more evident, as the price has been bouncing around the $1800 resistance level. The RSI indicator has been indicating a clear bearish divergence signal for a while, which could