Ethereum [ETH]: Analyzing how this resistance level can furnish an opportunity for investors - BitcoinEthereumNews.com
EthereumEthereum [ETH]: Analyzing how this resistance level can furnish an opportunity for investors07 / 08 / 2022Balita ng Ethereum ng Bitcoin Disclaimer: Ang mga natuklasan ng sumusunod na pagsusuri ay ang tanging opinyon ng manunulat at hindi dapat ituring na payo sa pamumuhunan. The 38.2% Fibonacci resistance has significantly impaired the buying efforts over the last three weeks. Over the last few days, Ethereum [ETH] saw an expected breakdown from its bearish flag pattern. Also, the trendline resistance (white, dashed) has kept the alts peaks under bearish control for over three months. Should the current candlestick see a robust close below the 38.2% level, ETH could eye a further downside in the coming sessions. At press time, the alt was trading at $1,222.5, up by 3.47% in the last 24 hours. ETH Araw-araw na Tsart Pinagmulan: TradingView, ETH/USD ETHs three-month trendline resistance has delineated a steep plunge in the daily timeframe. To top it up, the 20 EMA (red) has undermined most of the bullish recovery efforts until recently. The breakdown from the $2,700 zone has aggravated the selling power whilst the bulls strived to hold the $1,000-mark support. ETH lost nearly 70% of its value over the last few months (since early May). As a result,